UPDATE 8-Oil rises 2% as U.S. presidential election looms | Reuters
Oil prices gained nearly 2% on Monday, shaking off earlier losses, as the United States heads into a contentious U.S. presidential election.
The oil market has been under pressure in recent days, hit by concerns about weaker fuel demand as several European countries went into lockdown to curb the coronavirus. New infections spiked in the United States as well.
Brent crude rose 67 cents, or 1.8%, to $38.61 a barrel by 1:18 p.m. EST (1818 GMT). U.S. West Texas Intermediate rose 68 cents, or 1.9%, to $36.47 a barrel.
Both contracts fell more than $2 earlier in the session.
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