Oil prices rise on some signs of pick up in fuel demand
Share:
LONDON (Reuters) - Oil prices jumped on Thursday, lifted by signs the U.S. crude glut is not growing as quickly as expected and indications of a rise in fuel demand, which has been crushed by the coronavirus. Benchmark Brent was up 11.4%, or $2.57 at $25.11 a barrel at 1100 GMT in light trading. The front-month contract for June is set to expire on Thursday, having risen 10% on Wednesday.The more actively-traded Brent crude contract for July was up $1.97 or 8.1%, at $26.20 a barrel.U.S. West..