Oil Extends Losses on Stronger Dollar and Still-Surging Virus

Bloomberg Quint | Jan 18, 2021 at 6:24 AM
  • Oil edged lower in Asia as a stronger dollar and a still-surging coronavirus outweighed Chinese economic data that beat estimates.
  • Indian energy demand, meanwhile, got off to a shaky start to the year.
  • Brent’s prompt timespread is 3 cents a barrel in contango — a bearish structure where near-dated prices are cheaper than later-dated ones — after being as much as 16 cents in backwardation earlier in the month.