New Lockdowns In Asia Spark Oil Demand Concerns

The week got off to a promising start with prices hitting their highest level since March 18 after Libya declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities, citing a budget dispute. But things went downhill from there on fears that India, the world’s third-biggest oil importer, may impose restrictions as coronavirus infections and deaths surged to record highs. These new concerns over demand essentially became the theme of the week as a series of bearish developments outweighed…