Oil rebounds, but gains limited amid demand concerns as India reels from COVID-19

Oil rebounds, but gains limited amid demand concerns as India reels from COVID-19

Today·2021-04-27 13:03

TOKYO - Oil prices rebounded on Tuesday after falling in the previous session, but gains are likely to be capped amid growing concern about fuel demand in India, the world's third-biggest crude importer now slammed by spiralling new coronavirus cases.

Brent crude was up 36 cents, or 0.6%, at $66.01 a barrel by 0334 GMT, after dropping 0.7% on Monday. U.S. oil gained 36 cents, or 0.6%, to $62.27, having declined by 0.4% the previous session.

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