Oil futures posted a second gain on Tuesday, with traders betting demand for fuel will strengthen in the US and Europe as the market enters the summer travel season. “From now on, what to watch out for will be air travel,” said James Williams, energy economist at WTRG Economics. “Domestic and international air travel will continue to improve despite the difficulties in India,” he said. Given the “lifting of so many restrictions in the United States and pent-up demand for vacations, we should see a sharp rise in gasoline consumption in the United States this summer.” June West Texas Intermediate crude CLM21,
rose $ 1.20, or 1.9%, to $ 65.69 a barrel on the New York Mercantile Exchange.
(Reuters) - Foreign investors remained net buyers of Asian bonds for the eleventh consecutive month in April, as a rebound...Read more