Crude oil

Oil Prices Gain Ground on Tuesday

WTI crude futures traded 0.3% higher above $42.0 per barrel on Tuesday helped by expectations of US stimulus as lawmakers continued negotiations on the coronavirus relief economic package after talks between Democrats and the White House collapsed last week without a deal.

Prices were also supported by news on Sunday that Saudi Aramco sees a rebound in Asian fuel demand as economies gradually open up.

The West Texas Intermediate (WTI) benchmark for US crude is the world’s most actively traded commodity. 

Trading Economics

About Yusuf Issa

Check Also

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 …

Leave a Reply

Your email address will not be published. Required fields are marked *