Kovid’s return was a shadow in the desired condition and the oil was stabilized

(Bloomberg) – Oil did not change much on Friday morning, but the rapid spread of the Delta virus continued to confuse interest and prepare for a modest weekly profit.

They traded for $ 69 near a barrel in New York. Despite mixed reviews on its impact, the latest CV-19 wave is leading to restrictions on movement around the world. Demand forecasts are declining for the next year, with Goldman Sachs Group Inc. forecasting a temporary transition.

“The market is relatively stable, and this week’s reports show conflicting views on where the demand is going,” said Thomas Finlon, director of Energy Analytics Group LL. Investors are on high alert for Delta update and until we get that clarity, the investor’s mood is mainly in Limbo.

See also – forecasters are looking back for more OPEC crude oil demand

In the first half of the year, Delta, which pushed up oil prices by more than 50%, was called off as major economies such as the United States revived. The concern is that the authorities have taken strong action to control the outbreak in China. Although the total number of cases in the country is still hundreds, the spread of the gap to more than 17 provinces is raising international concerns about China’s recent mobility and demand.

The oil market has also weakened. Brent’s fast-paced times were 41 cents in the latter: a sign that recent contracts are more expensive than the latter. That compares to 92 cents at the end of July.

Global oil demand fell slightly after 3.8 million barrels per hour last month, the global demand for oil rose on Thursday, according to its monthly market report. Consumers have been declining in the wake of the epidemic, with consumption declining due to increased OPEC + results.

Although China and Southeast Asia are witnessing an outbreak of the virus, the demand for it has intensified at least one Indian filter earlier this year following a devastating storm.

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