Oil climbs 1% on economic recovery hopes despite fresh Asian restrictions

Brent crude ended the session up 75 cents, or 1.1%, at US$69.46 a barrel and West Texas Intermediate (WTI) crude settled 90 cents, or 1.4%, higher at $66.27. The British economy reopened, giving 65 million people a measure of freedom after a four-month COVID-19 lockdown.

NEW YORK: Oil prices rose more than 1% on Monday, lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data.

Brent crude ended the session up 75 cents, or 1.1%, at US$69.46 a barrel and West Texas Intermediate (WTI) crude settled 90 cents, or 1.4%, higher at $66.27.