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Brent crude dropped 70 cents, or 1.1%, to $62.99 a barrel by 04:57 GMT while US West Texas Intermediate (WTI) crude fell 71 cents, or 1.2%, to $59.93 a barrel.
The global oil market is rebalancing after damage to demand wrought by the COVID-19 pandemic was met with curbs on output by producers from the Organization of the Petroleum Exporting Countries (Opec), the group’s president said on Tuesday.
Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 04:10 GMT while US West Texas Intermediate (WTI) crude futures jumped $1.01, or 1.6%, to $62.51 a barrel.
Brent crude futures for May rose by 53 cents, or 0.8 %, to $68.77 a barrel by 04:36 GMT while US West Texas Intermediate (WTI) crude for April rose 44 cents, or 0.7%, to $65.49.
Brent crude was higher by 54 cents, or 0.9%, at $62.49 a barrel by 04:32 GMT while US West Texas Intermediate (WTI) crude was up 65 cents, or 1.1%, at $59.21 a barrel.
Brent crude oil futures for May rose 55 cents, or 0.8%, to $68.45 a barrel by 03:28 GMT while US West Texas Intermediate crude for April was up 52 cents, or 0.8%, at $64.96.
Brent crude oil futures for May settled up $1.73, or 2.6%, to $69.63 a barrel while US West Texas Intermediate crude for April ended the session $1.58 or 2.5% higher, at $66.02.
Brent crude was down 49 cents, or 0.7%, at $68.39 by 04: 33 GMT while US crude was down 47 cents, or 0.7%, at $64.92 a barrel.
The Abu Dhabi National Oil Company (Adnoc) and Intercontinental Exchange (ICE) on Monday, officially celebrated the start of trading of the United Arab Emirate’s (UAE) flagship crude oil, Murban,
Brent crude rose 32 cents, or 0.5%, to $64.46 a barrel at 05:25 GMT while US West Texas Intermediate (WTI) crude futures climbed 26 cents, or 0.4%, to $60.81 a barrel.
