Oil Holds Gain Near $65 as Traders Bet on Improving Demand

Bloomberg Quint | May 4, 2021 at 7:54 AM
  • Oil held gains above $64 a barrel on optimism that the resumption of economic activity in the U.S. and Europe will underpin demand.
  • Oil has soared in 2021 — amid a broad advance across commodity markets — as investors bet that the rollout of vaccines will permit a return to pre-pandemic conditions.
  • Oil’s ascent this year forms a key part of a comprehensive advance in raw materials that has also seen gains in metals and crops.