Wednesday, 12 May, 2021, 5:32 AM
latest
Home Business

Oil rises over 1% as demand hopes bolster sentiment

Published : Tuesday, 4 May, 2021 at 5:02 PM  Count : 264

Oil rises over 1% as demand hopes bolster sentiment

Oil rises over 1% as demand hopes bolster sentiment

Oil rose more than 1% on Monday as China's economic data and the U.S. vaccination rate signaled a strong return to demand from the world's two largest economies.

Investors are wary of the record-breaking transmission rate in India, the world's third-largest fuel importer with higher OPEC + oil supplies.

Brent crude rose 80 cents, or 1.2%, to settle at $67.56 a barrel. U.S. West Texas Intermediate rose 91 cents, or 1.4%, to settle at $64.49 a barrel.

The United States and China, the world's top two oil consumers, are expected to drive demand recovery from the coronavirus pandemic.

GY

Related Topics

Hosting   Software   Trading  




« PreviousNext »



Latest News
Most Read News
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000. Phone: PABX 2223353467, 2223353469; Online: 9513959; Advertisement: 9513663.
E-mail: [email protected], [email protected], [email protected], [email protected],   [ABOUT US]     [CONTACT US]   [AD RATE]   Developed & Maintenance by i2soft