The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. Picture: REUTERS/CHRISTIAN HARTMANN
Brent crude was down 52c, or 1.2%, at $42.62 a barrel at 8.05am GMT, and US West Texas Intermediate crude fell 50c, or 1.2%, to $40.15. Signs of economic recovery, and a drop in supply after a record supply cut by the Organization of the Petroleum Exporting Countries and allies, known as Opec+, have helped Brent more than double from a 21-year low below $16 reached in April.
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Oil slips amid concern about virus resurgenceBrent crude futures decline as markets fear faltering global demand
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No immediate threat to fuel supplies after Milnerton oil refinery explosionWhile there was a message going around about a possible fuel shortage following the explosion at Astron Energy's Milnerton refinery, the company has refuted this. | Day98ofLockdown
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Oil gains as drop in stockpiles offsets rise in US Covid-19 casesUS crude inventories fell 7.2-million barrels from a record high last week, with US Covid-19 cases rising by nearly 50,000 in just one day
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Two killed, six injured in Milnerton oil refinery explosionA fire has been contained after an explosion at a Milnerton refinery earlier today.Cape Town – Two people were killed and six injured in an explosion at the Astron Energy South Africa Oil Refinery in Milnerton in the early hours of Thursday, 02 July 2020 at approximately 4:00. The cause of the explosion is still the subject of an investigation. A fire has been contained after an explosion at a Milnerton refinery earlier today.\n\nAstron Energy South Africa confirmed in a statement on Thursday that the incident occurred at its Milnerton refinery at approximately 4am.\n\n'Astron Energy immediately activated its emergency response procedures and notified the relevant authorities. The resultant fire has been contained and the plant is now stable. \n\n\nPicture: Henk Kruger / African News Agency (ANA)\n\n'Our priority is to ensure the safety of all those on site and further information will be provided as soon as we have confirmed the details.'\n\nThere have been unconfirmed reports of fatalities and the police and Astrong Energy have yet to respond to a request for comment.\n\n\nPicture: Henk Kruger / African News Agency (ANA)\n\nThe Milnerton Neighbourhood Watch expects there to be fuel shortages due to the explosion.\n\n'By now all have heard of the explosion that took place at the Caltex Refinery in Milnerton/Killarney. As a precautionary measure, we urge all to fill up with petrol as shortages are expected,' it posted on Facebook.\n\nAny info on the explosion at the refinery in Milnerton? Photos received on social media... pic.twitter.com/R1u1Dw7Lln\n\n— Merentia v d Vent (Merentia) July 2, 2020
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Oil traders disappointed after taking a bite of Apple’s mobility dataThe much-heralded index relies on search information instead of kilometres travelled
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Oil falls as traders fret about demandA surge in US Covid-19 cases and a return to lockdown in California has stoked fears that consumption will falter
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