Oil Rising But Within a Narrow Range

Oil prices rose, but they remained moving within a narrow range Monday, April 12, amid optimism about the recovery of the US economy with an acceleration in the pace of immunization campaigns against the Corona virus, but the increase in Covid-19 infections in other regions of the world is holding back prices.

Brent crude rose 29 cents, equivalent to 0.5%, to $63.24 a barrel. US West Texas Intermediate crude added 17 cents, or 0.3%, to $ 59.49 a barrel.

Prices have ranged in a narrow range in the last three weeks, Brent between $60 and $ 65 and US crude between $57 and $62.