Morning all and Friday is once again upon us. Brent is trading this morning at $66.80 up 0.35 and WTi is trading at $64.07 up 0.38. Right let's keep t
DENSIN ROLEN
QA/QC WELDING INSPECTOR (CSWIP 3.1 , PCN RT INTERPRETATION & NDT LEVEL -2(RT, UT ,PT,MT),BE. MECHANICAL ENGINEERING) & AUTO CAD 3D
Morning all and Friday is once again upon us.?Brent is trading this morning at $66.80 up 0.35 and WTi is trading at $64.07 up 0.38.?Right let's keep today short and sweet.?A brutal week for Brent and in fact August has proved to be more disappointing than an English batting collapse.?We traded down to a low of $65.57 yesterday before recovering somewhat to close at $66.45.?That was still a 2.6% drop.?Since the end of July Brent is down around 12.5% and as I have been saying all week, we can attribute this downward pressure only to COVID-19 and I quote “Japan has extended its emergency lockdown and confirmed cases are on the rise in countries such as South Korea, Malaysia, Philippines, Vietnam and Thailand, whose industries need oil, which will also be affected by the Delta variant”.?Of course, other places are doing well, the US and Western Europe for example but with jet fuel