India Covid-19 crisis and US stocks expansion weigh on oil prices
Offsets confidence shown by Opec and its allies in a solid recovery in global fuel demand
28 April 2021 - 07:27
Melbourne — Oil prices dropped on Wednesday, paring overnight gains, with soaring Covid-19 cases in India and a bigger-than-expected build in US crude stocks offsetting confidence shown by Opec and its allies in a solid recovery in global fuel demand.
Brent crude futures fell 26c, or 0.4%, to $66.16 a barrel at 0205 GMT, paring a 1.2% gain from Tuesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.