All eyes on July for US oil demand to drain glut
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
US oil traders are hoping the sweltering days of July are also hot ones for demand, believing the new month is the last best opportunity this year to see the overhang of inventories finally subside.
Export opportunities to Asia and big US summer driving demand - expected to hit a record last weekend - are seen as the primary drivers for a drawdown in stocks that have remained stubbornly above seasonal averages.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
