Oil prices extend gains on demand hopes as lockdowns ease - Reuters

Oil prices extend gains on demand hopes as lockdowns ease - Reuters:

Oil prices jumped again on Tuesday on hopes for a recovery in vehicle traffic and fuel demand as some European and Asian countries along with several U.S. states began to ease coronavirus lockdown measures.

West Texas Intermediate (WTI) crude CLc1 futures were 7.75%, or $1.58, higher at $21.97 per barrel by 0820 GMT. The U.S. benchmark has closed higher for the last four sessions.

Brent crude LCOc1 futures were up 5.5%, or $1.49, at $28.69.

Italy, Spain, Nigeria and India, together with Ohio and other U.S. states, began allowing some people to go back to work and opened up construction sites, parks and libraries.