Oil rises on improving economic data but new coronavirus cases loom

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[NEW YORK] Oil prices rose about US$1 a barrel on Monday, after bullish data from Asia and Europe, but investors are wary about sharp spikes in new coronavirus infections around the world. Read more at The Business Times.

But fears of a second wave of the pandemic are keeping prices from going higher. The death toll from Covid-19 surpassed half a million people on Sunday, according to a Reuters tally.

"Whilst these localised measures on their own are unlikely to see any major immediate impact on demand, they do highlight the significant risk to gasoline demand," JBC Energy said.

Source: News Formal (newsformal.com)

 

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