Brent crude futures rose above the level of $70 a barrel for the first time since last March, as hopes for a strong recovery in fuel demand after the resumption of economic activities in the United States and Europe were offset by concerns about the spread of Covid-19 cases in Asia.<\/p>\n\n\n\n
Brent crude futures rose 62 cents, equivalent to 0.9%, to $70.08 a barrel, while West Texas Intermediate crude rose 42 cents, or 0.6%, to $66.69 a barrel.<\/p>\n\n\n\n
The two contracts had gained more than 1% on Monday.<\/p>\n\n\n\n
Economic activities resumed in Britain on Monday, giving 65 million people a measure of freedom after a four-month lockdown due to COVID-19. As vaccination rates accelerate, France and Spain have eased restrictions, and Portugal and the Netherlands have opened the way to travel activity.<\/p>\n\n\n\n
In the United States, New York State will no longer require the wearing of masks in most public places for people who have received full doses of vaccinations against Covid-19 from Wednesday, and other regions will resume economic activities there.<\/p>\n\n\n\n
And in India, the second most affected country by the pandemic, preliminary data showed yesterday that domestic sales of government refineries of gasoline and diesel fell by a fifth in the first half of May compared to the previous month, as the pandemic-related lockdown measures affected industrial activities and consumption.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brent crude futures rose above the level of $70 a barrel for the first time since last March, as hopes for a strong recovery in fuel demand after the resumption of economic activities in the United States and Europe were offset by concerns about the spread of Covid-19 cases in Asia. Brent crude futures rose …<\/p>\n","protected":false},"author":9,"featured_media":31093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6846],"class_list":["post-45823","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=45823"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45823\/revisions"}],"predecessor-version":[{"id":45824,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45823\/revisions\/45824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31093"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=45823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=45823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=45823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}