Oil nears $70 as easing Western lockdowns boost summer demand outlook

LONDON: Oil prices rose for a third day on Wednesday as easing of lockdowns in the United States and parts of Europe heralded a boost in fuel demand in summer season and offset concerns about the rise of COVID-19 infections in India and Japan.

Brent crude rose 91 cents, or 1.3%, to $69.79 a barrel at 0851 GMT. US West Texas Intermediate (WTI) crude rose 82 cents, or 1.3%, to $66.51 a barrel.