Oil prices jump but India coronavirus cases weigh – Reuters

  • Date: 15-May-2021
  • Source: Reuters
  • Sector:Oil & Gas
  • Country:Gulf
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Oil prices jump but India coronavirus cases weigh – Reuters

NEW YORK (Reuters) -Oil prices rose on Friday, reversing some of the previous day’s sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.

FILE PHOTO: A pump jack operates in the Permian Basin oil and natural gas production area near Odessa, Texas, U.S., February 10, 2019. REUTERS/Nick Oxford

Colonial Pipeline said late on Thursday it had restarted its entire pipeline system and had begun deliveries in all its markets. The line is the major conduit from Gulf refineries to the U.S. East Coast.