(Bloomberg) — Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases.OPEC and its allies are on track to rebalance the oil market and there are encouraging signs of recovery, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told an OPEC+ meeting on Thursday. However, California reported record new virus cases and infections jumped by the more than the weekly average in Florida, which followed a flare up in Beijing last week.Oil capped its seventh weekly gain in eight on Friday with traders Vitol Group and Trafigura Group …read more
Source:: Yahoo Finance
