Market Movers Asia, May 3-7: Weak demand, ample supply could weigh on oil market sentiments
On Platts Market Movers Asia this week with Associate Editor Pankaj Rao: Market watchers say the combination of weak demand and more oil deliveries could weigh on sentiment as the new trading cycle approaches.
Further highlights on the raw materials market:
* Refineries generally expect producers in the Middle East to lower official sales prices in June if there is sufficient supply
* Singapore prohibits crew changes for seafarers from India
* India’s petrochemical chains are facing disruptions and delivery delays
Fact Box: India’s COVID-19 resurgence is tarnishing outlook for energy, metals, and agriculture
Podcast: India’s oil demand worries and weather the COVID-19 storm