bp5ah schreef op 21 april 2021 12:38:
Oil slips on demand fears as India, Japan Covid-19 cases rise.Crude oil prices fell to their lowest in a week as concerns about the trajectory of fuel demand rose in the wake of a surprise increase in U.S. inventories last week.
By 6:30 AM ET, U.S. crude prices were down 1.2% at $61.93 a barrel, while Brent crude futures were down 1.0% at $65.89 a barrel.
The American Petroleum Institute reported a rise of just under half a million barrels in crude stockpiles, in contrast to expectations of a decline of 3 million. U.S. government data are due at 10:30 AM ET, as usual.
In addition to concerns about the strength of Indian demand, Japan’s two most populous prefectures, of Tokyo and Osaka, both asked the central government to lock down their economies with emergency decrees. The measures are likely to hit mobility in Asia’s third-largest consumer of oil.