Crude oil rises, but gains capped by demand concerns

TOKYO: Oil prices bounced back early on Tuesday from drops in the previous session, but gains were seen likely capped by growing concern about fuel demand in India, the world’s third-biggest crude importer now slammed by spiralling new coronavirus cases.

Brent crude was up 26 cents, or 0.4%, at $65.91 a barrel by 0141 GMT, after dropping 0.7% on Monday. U.S. oil gained 23 cents, or 0.4%, to $62.14, having declined by the same amount the previous session.