Oil jumps on hopes that lockdown easing will increase demand
One analyst said easing restrictions may lead to a balance in supply and demand for the oil market in the third quarter
05 May 2020 - 12:58
London — Oil prices jumped again on Tuesday on hopes for a recovery in vehicle traffic and fuel demand as some European and Asian countries, along with several US states, began to ease coronavirus lockdown measures.
West Texas Intermediate (WTI) crude futures were up 9.6%, or $1.95, at $22.34 per barrel at 10am GMT. The US benchmark has closed higher for the past four sessions. Brent crude futures were up 7.4%, or $2.02, at $29.22...
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