Oil prices climb as U.S. economic data lends support - Reuters

Oil prices climb as U.S. economic data lends support - Reuters:

Oil prices rose about 2% in a volatile session on Thursday, buoyed by signs of a marginal improvement in the U.S. economy and a tepid rise in fuel demand, but price gains were limited by rising cases of COVID-19 in some U.S. states.

Brent crude rose 74 cents, or 1.8%, to settle at $41.05 a barrel. U.S. West Texas Intermediate (WTI) crude ended the session up 71 cents, or 1.9%, at $38.72.

Road traffic in some of the world’s major cities in June had returned to 2019 levels, data provided to Reuters by location technology company TomTom showed.

Oil prices fell early, then found support as data showed fewer Americans filed for unemployment benefits last week and orders for key capital goods rebounded in May.