Oil pulls back from two-year peak on prospect of rising Iranian exports
Crude should remain a buy on dips due to improvement in the pandemic in India and the recovery in the US, China and Europe, analyst says
07 June 2021 - 11:04
London — Oil eased after hitting a two-year peak on Monday, pressured by the prospect of higher Iranian exports though recovering demand and Opec+ supply curbs provided underlying support.
Demand is rebounding in the US and Europe as Covid-19 restrictions are loosened. In another hopeful step for demand, India is easing its lockdown and Opec and its allies are sticking to agreed supply restraints through July...
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