India Oil Minister: Fuel demand shows recovery in June
|India's oil minister noted on Tuesday that the fuel demand is showing recovery in June. "We are confident that by the end of 2021, the fuel demand will recover to pre-pandemic levels," the minister added.
Market reaction
These comments don't seem to be having a noticeable impact on crude oil prices. The barrel of West Texas Intermediate (WTI), which lost 1.65% after climbing to multi-month highs on Monday, is currently down 0.42% at $71.48.
Later in the session, the American Petroleum Institute's (API) will release the Weekly Crude Oil Stock data.
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