Sensex, Nifty End At One-Week Low As Metal Rally Cools – BloombergQuint

The International Energy Agency said the supply glut created by the global pandemic has cleared, even as demand suffers a blow from a resurgence of the virus in India.

Surplus oil inventories in developed nations are now just a small fraction of the levels seen when demand collapsed last year, with output cuts by OPEC and its allies draining the excess, the IEA said on Wednesday. Still, the agency sees a temporary setback for global consumption as infections rock India, before the recovery resumes later in the year.

Click here to read the full story.

Views:
7
Article Categories:
Business

Comments are closed.