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YGRN - Weekly Energy Recap: Falling Oil Prices Revive Concerns About The Slow Pace Of Recovery
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Oil prices retreated after last week's rebound, as Brent dropped to $42.66 per barrel and WTI weakened to $39.77 per barrel, dipping below the $40 barrier for the first time since June.
A weak outlook for global oil demand has revived concerns about the slow pace of recovery from the COVID-19 pandemic, with especially weak gasoline demand in the US at the end of the summer driving season.
Prices should have been supported by positive industrial data from the US and China. Oil inventories also declined for the sixth week in a row, which would