Tag
WTI
Crude oil prices drifted lower at the first trading session of the week.
Both Crude oil benchmarks dropped more than 2% with WTI sliding to its lowest.
Brent crude prices in the last few weeks, keep ranging between the $44-$46 ranges.
Global oil supply to drop by 12 million b/d to 9 year low, covid-19 resurgence still a concern – IEA
IEA has just released its Oil Market Report for May 2020, with reliable data, forecasts, and analysis of trends in the global oil market.
With the slowdown in supply glut and improvement in oil demand due to easing of lockdown in economies across Europe, Asia, Africa, and so on
The week seems to be starting on a gloomy note for the global oil market, as the American headline crude, WTI, crashed by almost 25%