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COVID-19 - News digest as of 20.04.2021

April 20/2021

1. Crude futures fall as COVID-19 pandemic concerns mar bullish economic outlook

MOSCOW (MRC) -- Crude oil futures slipped during mid-morning Asian trade April 19, as concerns on the COVID-19 pandemic front pulled the market back after it ended higher last week on bullish data releases and improved demand forecasts, reported S&P Global. At 10:55 am Singapore time (0255 GMT), the ICE Brent June contract was 20 cents/b (0.28%) lower than the April 16 settle at USD66.57/b, while the May NYMEX light sweet crude contract was 11 cents/b (0.17%) lower at USD63.02/b. COVID-19 cases in key European economies, such as Germany and France, remain elevated, while analysts expressed further concerns over the rise in case numbers in India and Japan. India reported a record high 261,394 cases on April 17, latest data from John Hopkins University showed. The data also showed that cases in Japan have crept up to 4,802 by April 17, the highest on record since late January.

2. Asia Distillates-Jet cracks continue going down on worries of renewed coronavirus lockdowns

MOSCOW (MRC) -- Asian refining margins for jet fuel decreased for a second straight session on Friday, weighed by worries that renewed coronavirus lockdowns in several markets would dampen aviation demand recovery, reported Reuters. Refining margins, or cracks, for jet fuel dropped to USD4.59 per barrel over Dubai crude during Asian trading hours, 15 cents lower from Thursday. Jet cracks have gained 10% this week, but still remain 63% lower than the ten-year seasonal average for this time of the year, Refinitiv Eikon data showed. While pockets of demand have emerged from some domestic routes, a majority of international flights remain grounded due to prolonged border restrictions amid fresh virus waves in many parts of Asia. Business travel is still being avoided as much as possible across sectors.
Author:Margaret Volkova
Tags:Asia, Europe, crude and gaz condensate, medicine, COVID-19, Germany, India, USA, France.
Category:General News
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