Ongoing output cuts and signs of recovery in fuel demand boost oil
Prices may rise further as lockdown measures are lifted, analyst says
18 May 2020 - 07:44
Singapore — Oil prices climbed by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of a gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading.
Brent crude was up $1.19, or 3.7%, at $33.69 a barrel by 4.40am, after touching a high since April 13. US West Texas Intermediate crude was up $1.26, or 4.3%, at $30.69 a barrel, after rising to its highest since March 16...
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