Crude oil

Crude Oil Prices Rise to UD$62.7 Per Barrel

Oil prices rose for the second session on Tuesday, with WTI trading around $62.1 a barrel and Brent about $62.7 a barrel.

The rising crude prices are supported by the expected slow return of US crude output after last week’s deep freeze weather in Texas.

A bullish view dominates sentiment after oil prices recovered to pre-pandemic levels earlier this month as investors expect further market tightening and a global economic recovery supported by a COVID-19 vaccination campaign globally.

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