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Crude oil futures end higher on Thursday

30 Apr 2021 Evaluate

Magnifying previous sessions’ gains, Crude oil futures ended higher on Thursday amid optimism about the outlook for energy demand. A drop in US petroleum product supplies, signs of stronger demand for oil in the US and some other big countries amid an improved outlook for Covid vaccinations supported oil prices. However, rising COVID-19 cases in Brazil and India could hit local demand if stricter lockdowns are reimposed.

Crude oil futures for June rose $1.15 or 1.8 percent to settle at $65.01 barrel on the New York Mercantile Exchange. June Brent crude gained $1.33 or 2 percent to settle at $68.11 a barrel on London's Intercontinental Exchange.