Oil prices rise on signs of recovery and better demand for energy
Despite Covid-19 surging in India and Brazil, and the Colonial Pipeline shutdown, analysts see demand outweighing supply throughout the year
12 May 2021 - 11:25
London — Oil prices rose on Wednesday on signs of a speedy economic recovery and upbeat predictions for energy demand in light of progress with vaccinations against Covid-19, though waves of infections in India and Brazil weighed on gains.
Brent crude climbed 18c, or 0.3% to $68.73 a barrel at 8.46am GMT. US West Texas Intermediate (WTI) crude rose 20c, or 0.3%, to $65.48...
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