Beijing closes schools, raises COVID-19 emergency response IEA projects global crude demand to rise by 5.7 million b/d in 2021 US retail sales jumped 17.7% in May from the previous month Crude futures settled higher June 16, although heightened coronavirus response measures in Beijing tempered earlier gains from bullish demand projections from the International Energy Agency and stronger-than-expected US retail sales data in May. Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX July WTI settled up $1.26/b at $38.38/b while ICE August Brent rose $1.24 cents/b to $40.96/b, again crossing the $40/b threshold. NYMEX WTI initially spiked by nearly $2/b, rising above $39/b after the IEA said it saw global demand growth of 5.7 million b/d next year, and revised its 2020 demand growth up by almost 500,000 b/d. Still, that left 2020 demand at a 8.1 million b/d deficit to 2019. But […]