Oil gains on growing fuel demand, even as infections rise – ZAWYA
- Date: 26-Jun-2020
- Source: Zawya
- Sector:Economy
- Country:Saudi Arabia
Oil gains on growing fuel demand, even as infections rise – ZAWYA
Oil gains on growing fuel demand, even as infections rise Oil gains on growing fuel demand, even as infections rise | ZAWYA MENA Edition HomeMarketsCommoditiesArticleOil gains on growing fuel demand, even as infections rise Brent crude futures rose 64 cents, or 1.6%, to $41.69 and were also heading for a small decline for the week A man refills a car at a petrol station after the increase of gasoline prices in Khobar, Saudi Arabia, April 14, 2019. Image used for illustrative purpose.MELBOURNE - Oil prices rose on Friday, extending gains on optimism about a recovery in fuel demand worldwide, despite a surge in coronavirus infections in some U.S. states and signs of a revival in U.S. crude production.U.S. West Texas Intermediate (WTI) crude futures gained 57 cents, or 1.5%, to $39.29 at 0431 GMT but were on track for a slight drop for the week.Brent crude futures rose 64 cents, or 1.6%, to $41.69 and were also heading for a small decline for the week.U.S. West Texas Intermediate (WTI) crude futures gained 57 cents, or 1.5%, to $39.29 at 0431 GMT but were on track for a slight drop for the week.MELBOURNE - Oil prices rose on Friday, extending