High oil prices after heavy losses


Oil prices rose after recent sharp losses, but market sentiment remains weak as high COVID-19 infections damage the outlook for fuel demand while supplies rise.

Brent crude rose 42 cents, or 1 percent, to $ 40.88 a barrel. And a rough profit

The US dollar was 37 cents, or the equivalent of 1 percent, to 38.93 dollars a barrel. The two benchmarks fell more than 3 percent on Monday.

The bank expects US oil to reach an average of $ 38 and Brent to $ 41 in the last quarter of this year.

Prices received some support from a possible drop in US production as oil companies began closing offshore platforms as a hurricane approached the Gulf of Mexico.


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