(Bloomberg) — Oil is set for a third weekly gain in New York on nascent signs of a demand recovery, but the pandemic is continuing to cloud the outlook while concerns are rising about over-supply.October oil was steady near $43 a barrel and up 1.3% for the week. Futures surged to a five-month high on Monday on fresh China stimulus and as a gauge of builder sentiment in America jumped to its highest since 1998. However, optimism was tempered by downbeat comments from the U.S. Federal Reserve and OPEC+ on the demand outlook due to the coronavirus, while American unemployment …read more
Source:: Yahoo Finance
