Asian petrochemicals lowered heavily while oil prices declined on Monday over revival of news cases and fears of a second coronavirus wave in view of recent spikes in the US and China.
"US COVID-19 remains on the radar as infection cases topped 2mln while many states in US like Texas, Arizona, Florida, North Carolina, are experiencing rising COVID-19 infection increasing ICU utilization, even as the states are undertaking plans to reopen their economies," Singapore-based UOB Global Economics & Markets Research said.Global cases of the coronavirus are approaching 8m, with India's cases surpassing 300,000 on Sunday, according to the latest World Health Organization (WHO) data.China on 13 June imposed lockdowns in parts of Beijing following evidence of a new virus cluster at one of its districts.All the economies around the world are worried and are under great pressure due to Covid 19.
