Oil climbs 1% on economic recovery hopes despite fresh Asian restrictions | The Edge Markets

– A + A (May 18): Brent oil edged toward $70 a barrel with optimism building about the demand outlook in key regions such as the U.S., even as the coronavirus makes a comeback in parts of Asia. Futures in London climbed for a third session, while New York crude increased from the highest close in two years. The largest number of passengers passed through U.S. airports since the pandemic began, a sign of the domestic travel revival that's boosting fuel consumption. The rebound in America along with China and Europe is offsetting concerns around weaker consumption in India. Oil…