Prices are heading for a 10% gain this month. The market is in much better shape than a couple of months ago, but global consumption is still a long way off pre-crisis levels. Gasoline demand in the U.S. is under threat again with the virus restraining public activity. WTI Crude is $38.98; Brent is $40.97.
The specter of COVID is haunting the market once again, raising concern that a slowdown in the reopening of the U.S. economy will affect the recovery in demand for transport fuels. WTI Crude is $38.91; Brent is $41.45.
For an insight into Asia’s oil demand recovery and the health of global energy markets, look no further than the fluctuating volumes and shifting composition of the hoard of crude and fuel floating off Singapore. WTI Crude is $38.68; Brent is $41.20.
A dose of pessimism has returned to the oil market after a run of gains that drove prices higher from the depths of the Covid-19 crisis in April and early May. WTI Crude is $37.45; Brent is $39.90.
The American Petroleum Institute reported that inventories rose by 1.75 million barrels last week. That would be a third weekly gain if confirmed by government figures on Wednesday. Coronavirus cases are also surging again in many American states, threatening a nascent recovery in fuel demand. WTI Crude is $39.98; Brent is $42.21.
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