Oil Extends Gains Amid Signs of Strong DemandSingapore, 21 Aug (ONA) — Oil prices extended gains today, bolstered by signs of strong demand in the US, with uncertainty over efforts to end the war in Ukraine also lending support.
Brent crude futures hit a two-week high in early trade and were up 27 cents, or 0.40%, to $67.11 a barrel.
US West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.46%, to $63 a barrel.
Both contracts climbed over 1% in the prior session.
US crude inventories fell by 6 million barrels last week to 420.7 million barrels, the US Energy Information Administration (EIA) said on Wednesday.
—Ends/AG
