Oil rises for a second week despite the intensification of the Corona pandemic in India


Oil rose despite the exacerbation of the Covid-19 pandemic in India, to achieve new gains for the second week in a row, amid optimism about the global economic recovery.

Brent crude futures ended the session at $ 68.28 a barrel, while the settlement price for US West Texas Intermediate crude was set at $ 64.90 a barrel, an increase of 19 cents, equivalent to 0.3 percent for both grades.

The benchmark rose more than one percent over the course of the week, in a weekly rise that is the second in a row, amid easing movement restrictions imposed to contain Covid-19 in the United States and Europe and the recovery of factory activities and vaccinations to prevent Corona virus, paving the way for a recovery in fuel demand.


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