Oil inches up on tighter supply
Brent crude and US crude rise as Brent crude futures flip into backwardation
22 June 2020 - 07:57
Singapore — Oil prices nudged higher on Monday on tighter supplies from major producers, but a record rise in global coronavirus cases raised concerns a recovery in fuel demand could stall, checking gains.
Brent crude rose 8c, or 0.2%, to $42.22 a barrel by 4.49am, while US crude was at $39.93 a barrel, up 10c, or 0.3%...
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