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Oil edged higher on signals of steady demand ahead

Oil edged higher on signals of steady demand ahead



International benchmarks for crude oil edged higher on Tuesday, 27 April 2021 even after OPEC+ signal that the group would stick to the initial plan of raising output gradually starting 1 May, as investors interpreted the move as a signal to a steady demand ahead despite the COVID-19 situation in India.

Brent gained 77 cents, or 1.16% to $66.42/barrel.

WTI jumped $1.03, or 1.64% to $62.99/barrel.