Oil higher on hopes for U.S. stimulus, demand recovery - Reuters:
Crude oil prices rose on Tuesday, underpinned by expectations of a U.S. stimulus to help jumpstart the world’s biggest oil consumer, a rebound in Asian demand as economies reopen and a stronger stock market.
Brent crude LCOc1 added 29 cents, or 0.6%, to $45.28 a barrel, by 0819 GMT. West Texas Intermediate U.S. crude CLc1 rose 38 cents, or 0.9%, to $42.32 a barrel.
U.S. President Donald Trump tweeted that top congressional Democrats wanted to meet with him on coronavirus-related economic relief. The talks between Democrats and the Trump administration broke down last week.
“A deal on the support package is not a foregone conclusion but if it a mutually acceptable accord is struck stocks and oil will get a short-term boost,” Tamas Varga of oil brokerage PVM said.
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