Oil dips as India’s Covid-19 surge raises uncertainty over market demand
- Date: 03-May-2021
- Source: The National
- Sector:Healthcare
- Country:Gulf
Oil dips as India’s Covid-19 surge raises uncertainty over market demand
Oil prices opened lower on Monday as demand continued to suffer impacts of a raging second wave of Covid-19 in India, a key consumer.
Brent, the international benchmark, was down 0.43 per cent at $66.47 per barrel at 8.15am UAE time. West Texas Intermediate, the main US gauge, was down 0.47 per cent at $63.28 per barrel.
"The technical picture continues to suggest that oil's price recovery remains intact," said Jeffrey Halley, senior market analyst, Asia Pacific at Oanda.
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