Oil up 1% as demand worries ease

Tuesday, 04. May 2021 11:10

Prices of oil futures continued on Tuesday the upward trend from the day before, gaining more than 1% amid the growing optimism regarding the future demand for crude prompted by manufacturing data from both the United States and the United Kingdom.

Saudi Arabia's oil giant Saudi Aramco unveiled today that its first quarter's net income surged 30% compared to the same trimester the year prior.

Brent for July deliveries was up 1.04%, going for $68.27 per barrel at 4:57 am ET, while the West Texas Intermediate (WTI) for settlements in June advanced 1.02% to sell for $65.15 per barrel at the same time.

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