10.2 C
Munich

Oil inching higher still – demand worries as virus cases mount being dismissed

Must read


Oil has traded higher again during the Asia session. 

Analysts point to worries on demand slumping due to mounting infections around the globe not being reflected in traffic flow data.

  • “While the risk to the demand outlook could increase due to governments across Europe reducing permission for public gatherings, we note that markets have already undergone several rounds of mobility restrictions… yet, the global recovery was not significantly derailed,” 

And, ANZ:

  • “The (oil inventory) falls suggest the rise in cases of COVID-19’s Delta variant is having little impact on mobility,”

Brent traded above $75 Thursday Asia time. 

Oil has traded higher again during the Asia session. 

Invest in yourself. See our forex education hub.



Source link

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article