Crude prices soar on stronger demand as countries begin to ease coronavirus restrictions ...United Arab Emirates

Oil prices jumped on Monday boosted by output cuts and signs of recovery in demand for fuel as global economies have started easing curbs that were imposed to contain the spread of coronavirus. Global benchmark Brent was up over seven percent to $34.78 a barrel as of 13:39 GMT. US West Texas Intermediate (WTI) crude soared more than 10 percent to $32.50 per barrel as its June contract expires on May 19. The more actively traded WTI contract for July delivery rose eight percent to trade at $31.89, while the contract for August delivery was trading 7.4 percent higher at $32.33. Monday’s growth comes after WTI’s historic plunge to below z

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