Oil Up on Increasing Demand after Loosened Lockdowns
Oil was up on Tuesday morning in Asia, building on its gains from the previous session. Brent oil futures rose 1.40% to $28.23 by 9:43 PM ET (2:43 AM GMT) and WTI futures jumped 6.38% to $21.69. Demand for the black liquid continues to rise cautiously. This comes as some countries kickstart economic activity after emerging from weeks-long lockdowns to curb the spread of the COVID-19 virus. The production cuts agreed to.