Low Indian demand offsets oil’s recovery - Panorama Insurance Brokers

Low Indian demand offsets oil’s recovery

(Bloomberg) Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic.

Brent crude fell 0.6% to about $66.50 a barrel in Asian trading. Sales of gasoline in India were the lowest in April since August, while average daily diesel sales were the lowest since October, preliminary data from officials with direct knowledge of the matter show.

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