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2021-07-27

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Oil Edges Higher as Investors Assess Demand Amid Delta Spread

Oil resumed gains as investors bet the global demand recovery will remain intact despite a resurgenc

Oil Edges Higher as Investors Assess Demand Amid Delta Spread

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The rebound in key energy consumers such as the U.S. and China has helped to underpin increasing fuel consumption and drained bloated stockpiles built up during the pandemic. The fast-spreadingdelta variant, however, has raised some concerns about the short-term demand outlook.</p>\n<p><img src=\"https://static.tigerbbs.com/57298e8e9f6ed2ec041f84ce237e8a07\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>Delta has interrupted a rally in oil that started late last year and has prices heading for only the second monthly drop since October. The flare-up has crimped fuel demand in some regions and coincided with an agreement by OPEC+ to add more supply from August. While headwinds are mounting, there are expectations that the market with continue totightenthroughout 2021.</p>\n<table>\n <tbody>\n  <tr>\n   <th>PRICES</th>\n  </tr>\n  <tr>\n   <td>\n    <ul>\n     <li>West Texas Intermediate for September delivery rose 0.3% to $72.12 a barrel on the New York Mercantile Exchange at 8:03 a.m. in Singapore after slipping 0.2% in the previous session.</li>\n     <li>Brent for September settlement climbed 0.3% to $74.73 on the ICE Futures Europe exchange after gaining 0.5% on Monday.</li>\n    </ul></td>\n  </tr>\n </tbody>\n</table>\n<p>The prompt timespread for Brent was 85 cents a barrel in backwardation -- a bullish market structure where near-dated contracts are more expensive than near-dated ones. That compares with 58 cents a week earlier.</p>\n<p>Covid-19 infections globally have increased the most in two months due to a surge across the U.S. and low vaccination levels in Southeast Asian nations. The positive test rate in Indonesia is theworst in Asia, while Thailand and Vietnam have introduced curfews to curb the spread of the virus.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Edges Higher as Investors Assess Demand Amid Delta Spread</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Edges Higher as Investors Assess Demand Amid Delta Spread\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-27 09:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-26/oil-edges-higher-as-investors-assess-demand-amid-delta-spread><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Oil resumed gains as investors bet the global demand recovery will remain intact despite a resurgence in Covid-19 leading to tighter restrictions on movement in many regions.\nFutures in New York rose ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-26/oil-edges-higher-as-investors-assess-demand-amid-delta-spread\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-07-26/oil-edges-higher-as-investors-assess-demand-amid-delta-spread","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162939279","content_text":"Oil resumed gains as investors bet the global demand recovery will remain intact despite a resurgence in Covid-19 leading to tighter restrictions on movement in many regions.\nFutures in New York rose 0.3% to trade near $72 a barrel after dipping Monday. The rebound in key energy consumers such as the U.S. and China has helped to underpin increasing fuel consumption and drained bloated stockpiles built up during the pandemic. The fast-spreadingdelta variant, however, has raised some concerns about the short-term demand outlook.\n\nDelta has interrupted a rally in oil that started late last year and has prices heading for only the second monthly drop since October. The flare-up has crimped fuel demand in some regions and coincided with an agreement by OPEC+ to add more supply from August. While headwinds are mounting, there are expectations that the market with continue totightenthroughout 2021.\n\n\n\nPRICES\n\n\n\n\nWest Texas Intermediate for September delivery rose 0.3% to $72.12 a barrel on the New York Mercantile Exchange at 8:03 a.m. in Singapore after slipping 0.2% in the previous session.\nBrent for September settlement climbed 0.3% to $74.73 on the ICE Futures Europe exchange after gaining 0.5% on Monday.\n\n\n\n\nThe prompt timespread for Brent was 85 cents a barrel in backwardation -- a bullish market structure where near-dated contracts are more expensive than near-dated ones. That compares with 58 cents a week earlier.\nCovid-19 infections globally have increased the most in two months due to a surge across the U.S. and low vaccination levels in Southeast Asian nations. The positive test rate in Indonesia is theworst in Asia, while Thailand and Vietnam have introduced curfews to curb the spread of the virus.","news_type":1,"symbols_score_info":{"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":991,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}