Brent crude fell below $80

According to the OilNOW website on November 20, crude oil futures fell sharply on November 19 as the market weighed the impact of the new large-scale lockdown in Europe and the strengthening of the dollar, with December WTI closing at $76.
10 on the New York Mercantile Exchange down $2.
91, and ICE January Brent crude down $2.
35 to $78.
89
.

Oil demand indicators continued to decline in the week ending November 15 as governments responded to rising Covid cases in most countries and supply chain disruptions continued to weigh on economic activity
.

On 19 November, Austria announced that it would impose a nationwide lockdown
from 22 November.
The move comes amid a rapid rise in coronavirus cases in much of Western Europe and could signal a resurgence of more community controls, potentially further weakening demand
.

December RBOB fell 8.
24 cents to $2.
2119 per gallon on the New York Mercantile Exchange; The December ULSD fell 9.
06 cents to $2.
2934 per gallon
.

Germany imposed a tighter lockdown
on November 18 due to a surge in coronavirus cases.
Nationwide lockdowns are still ongoing, with increasing cases in Belgium and the Netherlands
.

TD Securities analysts said in a note: "The oil market is once again facing their worst enemy – the coronavirus-induced lockdown
.
News of an imminent lockdown in Austria sent energy prices tumbling as revived liquidity and tourism-driven demand expectations could take a significant hit
.
”

In the week ended November 15, liquidity in Europe's top five economies averaged 13.
7% below pre-COVID levels, down slightly this week, well below the pre-COVID high of 7.
2% in mid-September
, according to Google's latest data.