SULAIMANI (ESTA) — Oil prices rose on Tuesday, edging up from a three-week low in the previous session.
Brent crude was up by 88 cents at $69.92 a barrel by 0647 GMT, after falling 2.3% on Monday.
U.S. West Texas Intermediate (WTI) rose by $1.04 cents to $67.52 per barrel, having fallen by 2.6% in the previous session.
On Monday, China reported more coronavirus infections in the latest outbreak of the disease that was first detected in the country in late 2019.
Some Chinese cities have stepped up mass testing as authorities try to stamp out locally transmitted infections of the highly transmissible Delta variant of the virus.
“This is already weighing on mobility,” Reuters cited ANZ Research as saying, adding that airline seat capacity in China dropped by 32% in one week, citing aviation specialist OAG.
“Investors are also questioning the recovery in the U.S. amid rising case numbers. U.S. air travel has plateaued for almost two months amid ongoing travel restrictions,” ANZ stated.
