Oil dipped as a surge in coronavirus infections hitting the world’s major economies weighed on the prospect for a demand recovery even as China’s economic activity improves. While a gauge of China’s services industry is at the strongest level since early 2018, according to the National Bureau of Statistics, countries around the world are struggling to contain the virus. Cases topped 6 million in the U.S. and the U.K. added the most infections since early June, threatening a lackluster demand rebound as less people take to the roads and travel remains depressed. To the extent that China’s “manufacturing-intensive economy is making a comeback, which it clearly is in these numbers, that’s going to mean more crude oil demand, more refined product demand,” said John Kilduff, a […]