It's Asia to the rescue again as oil demand wavers elsewhere, Economy News & Top Stories – The Straits Times

SINGAPORE (BLOOMBERG) – As a second coronavirus wave menaces Europe and the US, Asia is back in a familiar position: acting as a bulwark against faltering oil demand. A surge in infections in Europe is already spurring more stay-at-home measures, while the US reported record new cases for a second straight day. That’s evoking memories of April, when it was only the rapid rebound in Chinese consumption that kept prices from plunging even further than they did. There are several differences this time round, however, which should cushion the market. The flagging demand isn’t coinciding with a price war and,…