Oil Up as Fuel Demand Outlook Improves But Clouded by Asian COVID Outbreaks


Source: upnewsinfo.com upnewsinfo.com

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© Reuters. By Gina Lee Investing.com – Oil was up on Monday morning in Asia as investors are optimistic about the recovery of fuel demand in key markets, despite concerns over the COVID-19 resurgence in parts of Asia. rose 0.51% to $69.06 by 11:16 PM ET (3:16 AM GMT). jumped 0.52% to $65.70, and rolled over to the Jul. 21 contract on May 16. Crude demand is increasing as the U.S. and parts of Europe continue their economic recovery from COVID-19 thanks to an accelerating COVID-19 vaccination rate. In the U.K., the government said on Sunday that more than 20...