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Oil rebounds as market seizes on discounted prices Toggle share menu
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Oil rebounds as market seizes on discounted prices NEW YORK :Crude oil futures rebounded on Tuesday as market participants vied to take advantage of oil s two-month low touched in the previous session.
FILE PHOTO: A closed petrol pump is seen in Chuquiaguillo, on the outskirts of La Paz, Bolivia, November 17, 2019. REUTERS/David Mercado
20 Jul 2021 10:45AM (Updated:
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NEW YORK -Crude oil futures rebounded on Tuesday as market participants vied to take advantage of oil s two-month low touched in the previous session.
Monday s selloff, spurred by demand destruction fears amid rising COVID-19 cases, pushed oil about 7per cent lower and hit other riskier assets. The oil market was also lower on news that the Organization of the Petroleum Exporting Countries and allies, known as O