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Real Oil Prices Firm on Asia Buying Amid China Virus Surge Bloomberg 1/22/2021 Sharon Cho © Bloomberg A worker walks along a jetty as a ship sits docked at the Vadinar Refinery complex operated by Nayara Energy Ltd., formerly known as Essar Oil Ltd. and now jointly owned by Rosneft Oil Co. and Trafigura Group Pte., near Vadinar, Gujarat, India, on Wednesday, April 25, 2018. The refinery was the crown jewel in a blockbuster $13 billion acquisition that, at the time, represented the largest foreign direct investment in India s history. The deal marked Trafigura s coming of age. (Bloomberg) Physical oil prices firmed in Asia after a flurry of tenders this week, although concerns remain about possible near-term demand weakness after a flare-up in Covid-19 cases across China.

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