Crude futures hit $50 a barrel for first time in nine months
There are continuing signs of robust demand in Asia with Chinese refiners moving early to buy crude oil from as far afield as the North Sea
10 December 2020 - 18:09
Global benchmark crude futures surpassed $50 a barrel for the first time since March as strong demand out of Asia and optimism surrounding vaccine progress lifted the outlook for consumption.
Futures in London rose as much 2.7% to its highest since early March. There are continuing signs of robust demand in Asia with Chinese refiners moving early to buy crude from as far afield as the North Sea. Indian Oil, which has been seeking spot cargoes in recent days, said the nation’s petroleum products consumption is almost back to normal...
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