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Oil prices rose on Tuesday, with a larger-than-expected increase in US, and the increase in cases of Covid19 may lead to an increase in fuel demand in the largest oil consumer in the world.
Brent crude futures for September delivery are currently trading at $ 44.29 a barrel, down by 0.07%, while future contracts for Brent crude, August delivery, fell 0.17% to $ 41.85 per barrel.
US President Donald Trump said in press statements that the outbreak may get worse before it gets better, which is one of his recent statements that the problem is spreading.
Data of Petroleum Institute, showed that last week, US crude stocks rose by 7.5 million barrels, compared to expectations for a withdrawal of 2.1 million barrels.
Prices had risen by about a dollar on Tuesday to reach their highest levels since March 6.
The United States reported more than 1,000 COVID-19 deaths on Tuesday, the first time since June 10 that the country has surpassed that number, according to Reuters statistics.
