Oil continued its gains on Tuesday, supported by hopes of improved economic activity following a trade agreement between the United States and the European Union, a potential trade truce between the United States and China, and President Donald Trump shortening the deadline he had set for Russia to end the war in Ukraine.
Brent crude futures rose by 24 cents, or 0.34 percent, to $70.28 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude rose to $66.93 per barrel, an increase of 22 cents or 0.33 percent.
Both contracts closed more than 2 percent higher in the previous session, with Brent touching its highest level since July 18 on Monday.
Source (Al Arabiya.Net Website, Edited)
