Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 0136 GMT. U.S. oil was off by 68 cents, or 1.1%, at $60.74 a barrel. Both contracts fell by more than 6% last week.
“The reality is that we’re still a long way from a full demand recovery, and it’s the record levels of withdrawn production capacity that’s the main prop for the oil market,” said Stephen Innes, chief global market strategist at Axi. U.S. drillers are starting to take advantage of an earlier spike in prices on optimism about returning demand, adding the most rigs for extracting oil since January in the week through Friday.
Indian oil never falls from the mighty himalayas!
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Already having a relief effect on the West Coast
Lets hope it's the beginning of the end of the age of oil.
Which market is this NFT up on
Is it possible to find a good guy on Twitter?