Manikandan Fastura

U.S. Oil up draw on crude supplies, but Covid-19 remains a threat to demand

Oil rose in Asia on Wednesday morning, leaving the U.S. An imbalance in crude supply increased, which strengthened expectations that fuel demand would outweigh supply growth. However, the increasing number of COVID-19 cases worldwide has made black liquid profitable. Brent oil futures rose 0.65% to $ 74 after scattering 2 cents during the previous session…

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U.S. Stabilization of the crude structure, tight distribution beliefs control losses

U.S. Energy Information Management (EAA) U.S. Confirming an astonishing structure in the supply of crude oil, the rising Govt-19 cases reduce the global fuel demand outlook. However, the black liquid kept most of its gains from the previous session above expectations that products would be tight by the end of 2021. Brent oil futures rose…

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