It's a bright outlook for the oil trade this summer
Energy demand is expected to remain robust as travel picks up and economic activity ticks higher
Singapore
AS MANY economies joyfully put lockdowns behind them, a "summer vibe" on the horizon is fuelling oil's ascent on the back of a sharp demand recovery. The possibility of more barrels coming to market down the road could, however, dull the glow.
On Wednesday, crude benchmarks Brent and US West Texas Intermediate (WTI) rose by some 0.6 per cent to multi-year highs of US$74.61 and US$72.67 a barrel respectively during Asia's mid-day session.
TRENDING NOW
Indonesia sacks finance minister Purbaya, replaces him with deputy Suahasil
‘Low hire, low fire’ labour market: Britain’s boomers cling to jobs as young get locked out
Singapore plays premium data centre game as Johor, Batam take on scale
CapitaLand Investment’s retrenchments: Mind the downsides of a profitable business laying off staff