SINGAPORE (Reuters) – Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.
Brent crude added 7 cents, or 0.2%, to $45.06 a barrel, as of 0027 GMT. West Texas Intermediate U.S. crude rose 14 cents, or 0.3%, to $42.08 a barrel.
“Crude oil gained amid signs of further stimulus measures,” ANZ said in a note.
“U.S. lawmakers continued negotiations on the massive virus relief economic package with Treasury Secretary Steven Mnuchin saying there are areas where compromise is possible and a fair deal could be agreed upon. Sentiment was also boosted by comments from Saudi Aramco that demand is improving.”
