COVID-19 Spike Prompts Mixed Oil Prices as U.S. Demand Stays Frail…LIVE NEWS UPDATE BY ROYAL TRADERS


Oil prices were mixed on Monday morning in Asia as the U.S. reached a record high for new coronavirus cases for the 27th day in a row with twelve states reporting new highs in seven-day case averages.

Montana, Delaware and Alaska are experiencing the biggest percentage increase from past records, while South Carolina, Texas, Arizona, Nevada and California reported record numbers of current covid-19 hospitalizations as of July 6.

In Europe, supply tightened due to a pledge by OPEC and Russia to extend oil production cuts by a record 9.7 million barrels per day for a third month in July. After July, producers expect to keep in place smaller production cuts of 7.7 million bpd until December.

Best Accuracy For Royal Traders

Leave a Reply

Your email address will not be published. Required fields are marked *