Oil prices climb on favorable outlook for US fuel demand

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Mon, 2021-04-12 02:13

TOKYO: Oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of COVID-19 vaccinations there accelerates, though increasing case numbers in other countries are set to cap gains.
Brent was up 25 cents, or 0.4 percent, at $63.20 a barrel by 0155 GMT. US crude gained 17 cents, or 0.3 percent, to $59.49 a barrel.
Prices have changed little since a period of volatile trading ended with the close of trading last Monday.

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