Oil Edges Higher as Investors Assess Uncertain Demand Outlook

Bloomberg2021-07-13

Fast-spreading delta variant causing jump in cases worldwide. WTI crude futures climb 0.2% after dropping 0.6% on Monday. Oil edged higher after falling for the first time in three days as the market...

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SSVC
2021-07-13
SSVC
Nice Appreciate your response and comments Thanks
jacjacsim
2021-07-13
jacjacsim
Nice
WilKoh
2021-07-13
WilKoh
Like
- jacjacsim:
  cool
henghm
2021-07-13
henghm
Like and comment
Hunter88
2021-07-13
Hunter88
Pls like & comment
- DWWM:
  Done

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Thedelta variantis spreading rapidly through regions from Asia to the U.S., leading to a spike in infections and renewed lockdowns. The flare-up adds to market uncertainty after OPEC+ ended supply talks last week without anagreementfor August.\n“We have seen this playbook before -- it was the European resurgence at the start of the year, then India followed by Southeast Asia,” said Howie Lee, an economist at Oversea-Chinese Banking Corp. “In the short term, we might see a bit of jitter across markets, but the fundamental picture has hardly budged.”\nOil has rallied more than 50% this year as the vaccine rollout in key economies such as the U.S. accelerated the rebound from the pandemic, although the spread of delta is a reminder the recovery will be bumpy. The International Energy Agency will give an updated snapshot of the market later on Tuesday.\nThe window for OPEC+ to boost output in August is closing quickly. 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