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COVID-19 - News digest as of 25.09.2020

September 25/2020

1. Crude prices recover even as bearish fundamentals persist

MOSCOW (MRC) -- Oil futures recovered slightly during the mid-morning trade in Asia Sept. 22, after the prospect of renewed lockdowns amid a potential resurgence of the coronavirus pandemic drove futures down Sept. 21, reported S&P Global. At 11:16 am Singapore time (0316 GMT), ICE Brent November crude futures were trading at USD41.54/b, up 10 cents/b (0.24%) from the Sept. 21 settle, while the NYMEX October light sweet crude contract was at USD39.57/b, up 26 cents/b (0.66%). This uptick in crude futures comes after the November Brent and the October WTI plummeted USD1.71/b and 1.80/b to close at USD41.44/b and USD39.31/b, respectively, on Sept. 21, following fears of renewed lockdown restrictions during the winter months, when the coronavirus is expected to spread faster.
Author:Margaret Volkova
Tags:Asia, crude and gaz condensate, COVID-19, USA.
Category:General News
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