Oil rises on optimistic demand outlook; uncertainties remain | Reuters
Oil prices rose on Wednesday amid optimistic forecasts of global fuel demand recovery, while the rapid spread of COVID-19 infections in India and a bigger-than-expected build in U.S. crude stocks capped gains.
Brent crude futures rose 28 cents, or 0.42%, to $66.70 a barrel at 0646 GMT, following a 1.2% gain from Tuesday.
U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.46%, to $62.23 a barrel, after gaining 1.7% on Tuesday.
An OPEC+ decision to stick to plans for a phased easing of oil production restrictions from May to July underscored the producers' confidence in a recovery in global demand.
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