Oil Slides Amid Uneven Consumption Recovery
(Bloomberg) -- Oil slipped below $69 a barrel as traders assessed an uneven recovery in global demand. Global benchmark Brent has struggled for momentum after failing to break above $70 a barrel on Wednesday. While major crude importer India is battling a record coronavirus wave that’s sapped economic activity, there are signs of rising oil consumption in the U.S., Europe and China. Data Wednesday showed American stockpiles declined last week to the lowest since February. Oil has rallied in 2021 as key economies including the U.S. and China rebound from the impact of the pandemic, fanning e...
Source: rigzone.com