Oil inched higher on positive economic data

International benchmarks for crude oil traded in the positive zone on Wednesday, 7 April 2021 on improving economic outlook after the IMF forecast global growth of 6% this year based on the unprecedented public spending. However, the price gains are capped by the surging gasoline inventories in the US.

Brent inched 42 cents higher, or 0.66% to $63.16/barrel.

WTI gained 44 cents, or 0.74% to $59.77/barrel.