Latest Global Lockdowns Delay Fuel Demand Recovery

Severe coronavirus restrictions around the world to contain surging infection rates weighed on fuel sales, weakening the prospect of energy demand recovery in the first half of 2021, Reuters reported. Most of Europe is now under the strictest restrictions, according to the Oxford stringency index, which assesses indicators such as travel bans and the closure of schools and workplaces. The United Kingdom’s new national lockdown is expected to last until mid-February at least. The German government, meanwhile, has extended its own strict lockdown until the end of January and Italy has extended to Jan. 15 a ban on movement between 20 regions. As a result, traffic in London, Rome and Berlin fell sharply in late December and early January, data provided to Reuters by location technology company TomTom shows. Read more.