WASHINGTON (dpa-AFX) - Crude oil futures settled roughly flat on Thursday after two successive days of strong gains, as traders reacted to inventory data and weighed energy demand prospects.West
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Oil Futures Extending Gains On Demand Hopes
West Texas Intermediate Crude oil futures for July are up $0.73 or 1.08% at 68.45 a barrel.
Brent crude futures are up $0.84 or 1.2% at $71.09 a barrel.
After a meeting on Tuesday, the Organization of the Petroleum Exporting Countries and its allies agreed to gradually ease supply curbs through July.
Comments from Saudi Energy Minister Prince Abdulaziz bin Salman that he expects oil demand in the U.S. and China to see a significant recovery and the acceleration in vaccine rollouts will likely lead to a further rebalancing of the global oil market, further supported oil prices.