Oil prices steady after 3% surge in last session

25/05/2021 Argaam

Oil rigs

Oil prices were steady on Tuesday, holding around one-week highs after rising more than 3% in the previous session.

 

International benchmark Brent crude was trading at $68.44 per barrel, at 9.00 am Makkah time.

 

WTI crude was trading at $66 per barrel.

 

The rate of mobility in the United States increased significantly, which supports fuel consumption levels, as more than 61% of American adults have received at least the first dose of the COVID-19 vaccine. Meanwhile, the number of new coronavirus cases has grown at the slowest pace since March 2020.

 

The American Petroleum Institute is scheduled to release preliminary data on US crude inventories later today.

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