Weakening demand, rising supply weigh crude futures
Weakening demand due to anticipated second wave of the coronavirus pandemic and rising supply have continued to weigh on market sentiment, dampening crude futures.
Oil inches above $60 as U.S. delays tariffs on Chinese goods
Oil prices continued to rally yesterday, following reports that the United States has decided to delay the next round of tariffs that were to be imposed on Chinese goods.
Export of Qua Iboe crude oil suffers set-back
Nigeria’s Qua Iboe crude oil blend has been delayed for five days, with operator ExxonMobil planning to issue a revised loading plan, according to traders.
Brent above $50: How sustainable?
This suggests that a bounce in GBP should be limited if the UK voted to stay in the EU, and fundamentals which have been ignored most recently will be back in play.