Global crude oil prices increase based on resuming demand in EU & US
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Update time : 2021-05-05 22:32:31
According to the market on May 4th, the crude oil prices showed an increase, mainly benefited by the resuming demand in the US and EU, but the worsening epidemic situation in India did pressure the increment.
Among them, the crude oil futures price for June in the West Texas Intermediate showed US$65.69/barrel, increased by 1.86% from the previous trading day; the crude oil futures price for July in the Brent Crude showed US$68.88/barrel, increased by nearly 2% day-on-day.
For the future, the market believed the vaccine would ease the worry of Covid-19 in the world, and which might drive the government to cancel the border lockdown measures, further create more demand for crude oil.
