Extended lockdowns in response to the continuing surge in Covid-19 infections in Europe has quashed hopes that fuel demand on the continent could rebound in the first half of the year, Reuters has warned . Citing data from the Oxford stringency index, which tracks school and office closures and travel restrictions, the report notes that most of Europe is in the grips of the most severe movement restrictions, which is affecting fuel demand negatively. Traffic data supports the warning, as Germany and Italy extend lockdowns that were already in place and England introduces a third national lockdown to contain the virus. The new lockdown will be in force until mid-February. The German lockdown was extended to the end of January, and Italy plans to reopen on January 15. Europe‚Äôs oil demand was already lower in the final quarter of 2020 compared with the third quarter, as countries began to […]