NEW YORK: Oil price s rose on Monday on optimism that China would see significant demand recovery after positive signs that the country's coronavirus pandemic was receding in the hardest-hit areas. Brent crude LCOc1 futures for July delivery rose $2.69 to settle at $114.24 a barrel, a 2.4% gain, while U.S. West Texas Intermediate (WTI) crude CLc1 rose $3.71, or 3.4%, … [Read more...] about Oil settles higher on demand optimism
Wti
Oil prices going down as investors take profit; supply fear still looms
SINGAPORE, May 16 (Reuters): Oil prices fell on Monday, paring early gains as investors took profit following a surge in the previous session, albeit in the shadow of supply fear as the European Union prepares an import ban on Russian crude and with limited increase in OPEC output. Brent crude futures were down $1.42, or 1.3%, at $110.13 a barrel at 0653 GMT, while U.S. West … [Read more...] about Oil prices going down as investors take profit; supply fear still looms