Oil prices rise as easing of lockdowns…

Oil prices rise as easing of lockdowns…

(Investing.com) – Oil prices climbed on Tuesday as the easing of coronavirus lockdown measures across the globe lifted trader hopes for a swift recovery in demand, though gains were capped by the spectre of persistent oversupply in the market.

Brent crude (LCOc1) futures rose 0.3%, or 14 cents, by 0435 GMT to $40.94 a barrel. The benchmark contract had fallen $1.50 on Monday, snapping a seven-day streak of gains.

U.S. West Texas Intermediate (WTI) crude (CLC1) futures rose 0.7%, or 26 cents, to $38.45 a barrel, after dropping by $1.36 on Monday…

Source: Investing.com

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