U.S. West Texas Intermediate crude CLc1 futures climbed 13 cents, or 0.3%, to $40.76 a barrel at 0103 GMT, recouping a 2 cent loss from Monday.The market is still being supported by a bigger-than-expected drawdown in U.S. crude stockpiles reported last week and by record supply cuts by the Organization of the Petroleum Exporting Countries and allies, together known as OPEC+, AxiCorp strategist Stephen Innes said.
“Summer driving demand in the U.S. is low, keeping gasoline demand subdued, and a reintroduction of lockdowns is a major headwind,” ANZ said in a note.
No one is going anywhere
What a strange world...
RobTheEng
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