Oil prices gain on prospects of faster economic recovery

Crude oil prices have edged up on hopes of stronger economic growth as Covid-19 vaccinations gather momentum across the world and reports that US crude inventories have reduced.

However, gains have been capped by the impending supply boost by major oil producers and optimism over talks between Iran and the US over the 2015 nuclear deal.

Brent crude futures for June edged higher by $0.24, or 0.4%, to reach $62.98 a barrel while US West Texas Intermediate crude for May increased by $0.20, or 0.3%, to reach $59.53, reported Reuters.

IamFire plc (AQSE:FIRE) is an Investment Issuer Listed on the AQSE Growth Market Exchange. The company has an investment strategy focused on the identification of opportunities in Life Sciences, Technology & Natural Resources.

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