Rising Covid-19 infections prompt US to warn travellers to avoid Spain, Portugal, Cuba and Cyprus
27 July 2021 - 11:28London — Oil prices steadied on Tuesday as investors bet that tight supply and rising vaccination rates will help offset any impact on demand from surging Covid-19 cases worldwide.
“With oil demand growth likely to outpace supply growth in the near term, we expect oil tightness over the summer, which should boost oil prices,” analysts at UBS said in a research note. Analysts tracking mobility data remain confident about fuel demand, counting on vaccinations to guard against strict new lockdowns.
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