Oil rises on positive outlook for fuel demand


Crude oil futures edged up on Tuesday for the third day in a row amid positive outlook for fuel demand.

At 1340 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.12 (+0.14 percent) to reach $83.55 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $81.96 a barrel, up by $0.03 (+0.04 percent).

The price for Opec Basket was recorded at $80.11 a barrel with a decrease of 1.61 percent, Arab Light was available at $82.99 with 0.44 percent decrease, and the price of Russian Sokol slipped to $83.85 with a decrease of 0.39 percent. The US Congress passed the $1 trillion infrastructure bill .—TLTP

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