Oil price extends rally, rises over 1% on US fuel demand recovery


Brent crude rose US$1.20, or 1.7%, to settle at $72.25 a barrel. U.S. West Texas Intermediate (WTI) crude gained 82 cents, or 1.2%, to end at $68.36 a barrel.U.S. gasoline futures rose 5.5% to settle at $2.3008 a gallon. During the session, prices reached $2.3026 a gallon, their highest since Aug. 12.

NEW YORK: Oil prices rose more than 1% on Wednesday, extending gains for a third session, after U.S. government data showed that fuel demand climbed to its highest since the start of the COVID-19 pandemic.

Brent crude rose US$1.20, or 1.7%, to settle at $72.25 a barrel. U.S. West Texas Intermediate (WTI) crude gained 82 cents, or 1.2%, to end at $68.36 a barrel.

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Oil price , Brent , oil , West Texas Intermediate , gasoline , demand , WTI ,

   

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