Singapore’s Grab puts partnership with troubled Wirecard on hold

Singapore’s Grab puts partnership with troubled Wirecard on hold

Singapore's Grab puts partnership with troubled Wirecard on hold

Oil price rebounds as virus lockdowns are eased



Updated 24 June 2020

Frank Kane

June 24, 2020 02:23

DUBAI: The rebound in oil prices grew on Tuesday amid fresh signs that world economies are recovering from the COVID-19 pandemic.

Brent, the global benchmark, touched $44 a barrel at one stage in European trading “” its highest level since early March “” as more countries lifted lockdown restrictions.

Stock markets also took heart from hopes of an end to trade confrontation between China and the US, when President Donald Trump said a deal was "fully intact.“

Oil traders digested a new report from experts at consultancy Energy Aspects showing that the fall in demand because of the pandemic was significantly lower than previously estimated.

Chief oil analyst Amrita Sen said: "It turns out that global oil demand fell by less than 20 percent, around 18.5 million barrels per day at the height of the COVID-19 lockdowns in April, when most of the northern hemisphere “” home to 90 percent of global manufacturing “” was shut down.“

Many analysts calculated at the time that the lockdowns had reduced global demand by about 30 million barrels a day.

While that is good