Thursday, January 30, 2025

Oil gains as vaccine hopes outweigh lockdown impact

Reuters LONDON/NEW YORK/SINGAPORE  – Renewed restrictions in Europe and the United States to combat the coronavirus have slowed the pace of fuel demand recovery, offsetting a rebound in Asian economies where consumption has almost returned to pre-COVID levels. As the second wave of the virus hit many Western countries, governments imposed new lockdowns, closing restaurants and bars and banning gatherings.