Oil futures tick lower Monday, despite a continued shutdown of a major North American pipeline, as worries remain over the demand outlook for crude.
Oil futures ticked lower Monday, despite the continued shutdown of a major North American pipeline and China’s loosening of COVID-19 curbs, as worries remained over the demand outlook for crude.
Analysts... Oil futures ticked lower Monday, despite the continued shutdown of a major North American pipeline and China’s loosening of COVID-19 curbs, as worries remained over the demand outlook for crude. “An expected bumpy China reopening coupled with the scenario of a mild recession in Europe and the U.S. could lead to a harsher economic climate for oil markets. That dominant view is curbing bullish enthusiasm. After all, it was only a matter of time before the same slowdown that haunted stocks most of the year weighed on oil markets,” said Stephen Innes, managing partner at SPI Asset Management, in a note.
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