Virus jitters offset by US stimulus keep oil level
‘Very quiet’ market seen until the end of the year
28 December 2020 - 08:21
Singapore — Oil steadied in Asian trading — after posting its first weekly loss since October — as pessimism over a new strain of Covid-19 was balanced by the passage of a US stimulus bill into law.
Futures in New York traded near $48 a barrel after sliding 1.8% last week. Tougher restrictions were extended to much of England to try to stem the virus mutation, while China suspended passenger flights to the UK. US officials, meanwhile, warned of a post-Christmas surge of infections...
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