Oil Steadies Near $64 as Market Weighs Demand Against Inflation

Bloomberg Quint | May 14, 2021 at 7:31 AM
  • Oil headed for a the biggest weekly drop since early April as countries in Asia continue to fight persistent Covid-19 outbreaks, highlighting the patchy recovery from the pandemic even as U.S. demand picks up.
  • Japan plans to extend curbs to more prefectures, China saw its first infections in about a month, and key oil importer India continues to report more than 300,000 cases a day.
  • The gains have stalled since early March amid virus flare-ups in parts of Asia, especially India.