Oil Maintains Gains on Recovery Hopes

Oil prices continued to rise on Tuesday, but gains were limited due to concerns about a possible rise in global output as media reports point to developments in restoring the Iran nuclear deal.

However, markets continue to show optimism about demand recovery during the second half of the year, amid a wider distribution of the coronavirus vaccines.

Brent futures for July delivery rise by 19 cents, or 0.3%, to finish at $68.65 per barrel, while August futures rose by 0.2% to $68.49 a barrel.

The West Texas Intermediate (WTI) crude futures for July delivery closed higher by 2 cents, or 0.03%, at $66.07 per barrel.