KONTAN.CO.ID - LONDON. Oil prices edged higher on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal but gains were capped by fears that new lockdowns could derail a recovery in demand. Benchmark Brent crude was up 31 cents at $43.59 by 0743 GMT, while West Texas Intermediate (WTI) gained 19 cents to $41.00. The closing prices of both have traded within a $2 channel so far in July. The prices were buoyed by an agreement among European Union leaders on a 750 billion euro ($859 billion) fund to prop up their coronavirus-throttled economies, lifting prospects for fuel demand.
Oil ticks up on vaccine hopes, EU stimulus deal
KONTAN.CO.ID - LONDON. Oil prices edged higher on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal but gains were capped by fears that new lockdowns could derail a recovery in demand. Benchmark Brent crude was up 31 cents at $43.59 by 0743 GMT, while West Texas Intermediate (WTI) gained 19 cents to $41.00. The closing prices of both have traded within a $2 channel so far in July. The prices were buoyed by an agreement among European Union leaders on a 750 billion euro ($859 billion) fund to prop up their coronavirus-throttled economies, lifting prospects for fuel demand.