Column: Oil prices hammered by surge in coronavirus cases: Kemp | Reuters
Oil prices have finally buckled after coronavirus cases surged in all the major oil-consuming regions, pushing back the anticipated easing of quarantines and resumption of international passenger aviation.
The number of new coronavirus cases confirmed each day around the world has almost doubled to 84 per million people this week, up from just 46 in late June, according to official statistics compiled by Our World in Data.
North America has seen the number of new confirmed cases soar to almost 300 per million per day up from just 40, while in Europe numbers have surged to 170 from 50, and in Asia to 60 from 30 (https://tmsnrt.rs/3xWtoLr).
Most of the main consuming countries are now in the grip of the third or fourth wave of infections since the start of the pandemic or are fighting to contain local outbreaks.
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