Brent crude fell below $62/bbl in early April after OPEC’s decision to ease output cuts, before rising above $67/bbl after a large US crude draw, indicating high demand.

GBP reached a high of 1.4010 against USD after UK Covid-19 restrictions were lifted, as it entered the second step of the government’s ‘roadmap’ out of lockdown.

India, the worlds third largest oil consumer, experienced devastating waves of Covid-19 infections with over 300,000 new daily cases, taking the total number past 18m.