Montana, Delaware and Alaska are experiencing the biggest percentage increase from past records, while South Carolina, Texas, Arizona, Nevada and California reported record numbers of current Covid-19 hospitalizations as of July 6.
In Europe, supply tightened due to a pledge by <a href=’https://staging.theenergyyear.com/companies-institutions/opec/’>OPEC and Russia to extend oil production cuts by a record 9.7 million barrels per day for a third month in July. After July, producers expect to keep in place smaller production cuts of 7.7 million bpd until December.
Brent oil futures rose 0.19% to $42.88 by 10:36 PM ET (3:36 AM GMT) while WTI futures slid 0.71% to $40.36.
There are some encouraging signs that the US is heading towards economic recovery.
Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) recently made its first deal since the economic downturn caused by the coronavirus, purchasing assets from the US’s second largest energy company Dominion Energy (NYSE:D) in a deal worth almost $10 billion.
By Investing.com: https://www.investing.com/news/commodities-news/covid19-spike-prompts-mixed-oil-prices-as-us-demand-stays-frail-2220686
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