(Bloomberg) — The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S.Futures in London and New York gained, while Brent for August was trading above the September contract, a sign of scarcer supply in Europe’s physical market. Oil prices in the North Sea and Russia has soared in recent days, while the amount of crude stored on ships is falling.“The physical market is strong,” said Ben Luckock, co-head of oil trading at Trafigura Group Ltd. “There’s good demand for North Sea …read more
Source:: Yahoo Finance
