Oil gains on rosier outlook for global economy

Oil prices rose for the third session on Tuesday as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand.

Brent crude was up 8 cents at $83.51 a barrel by 0220 GMT, after gaining 0.8% on Monday. U.S. oil was up 10 cents at $82.03, also after a 0.8% gain the previous day.

U.S. President Joe Biden’s long-delayed $1 trillion infrastructure bill – which passed through Congress at the weekend – and better-than-expected Chinese exports helped paint a picture of a more expansive global economy.

Echo Energy plc (LON:ECHO) is a full cycle, exploration led, oil and gas focused AIM-listed E&P with an exciting asset base in Latin America.

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