Oil Still on a Bumpy Path to Recovery Despite Price Swerve
- Air travel finally shows signs of rebound after long slump
- Europe loses some ground while Asia and U.S. continue recovery
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Oil just experienced its biggest one-day price slump in more than six months, but it hasn’t veered off the road to recovery.
Even as problems with Europe’s vaccine program and a slowdown in Chinese crude buying sent futures down 7% on Thursday, data from around the world showed a steady, albeit patchy, recovery in demand.