By Justice Derefaka
Oil fell stabilized at $43 a barrel on as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery.
The United States reported more than 55,000 new coronavirus cases on Thursday, a new daily global record for the pandemic. The rise in cases suggested U.S. jobs growth, which jumped in June, could suffer a setback.
Consistent Indian buying continued to buoy Nigerian differentials, especially for some medium grades.
* Prices for lighter Nigerian grades had yet to rally despite significant draws on gasoline stocks in Europe, as cheap U.S. competition continues to be more attractive to importers.
Prices are as follows:
(1)Dated Brent =$43.145/ bbl (0.025)
(2)Bonny Light =$43.060/bbl (0.295)
(3)QuaIboe =$43.210 /bbl (0.295)
(4)Forcados =$43.210 /bbl (0.295)
Stay Safe and have a wonderful week