Oil Jumps To Six-Week High On Brighter Demand Outlook

Oil prices rose to their highest level in six weeks early on Tuesday as the IEA said it expects a strong rebound in global oil demand from October and as another storm threatened to cause disruptions to the oil industry in the U.S. Gulf area. As of 9:17 a.m. EDT on Tuesday, WTI Crude was up 0.77% at $71.02, and the price of Brent Crude exceeded $74 a barrel, up by 0.78% on the day at $74.11. Oil is now at its highest level since the end of July, before prices started sliding in August on concerns about oil demand with the surge of the Delta COVID…