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Oil prices inch up on bets for a second weekly decline in domestic crude supplies

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Oil futures inched higher on Tuesday, with expectations for a decline in U.S. crude inventories for a second week in a row providing support for prices, but the increase in coronavirus cases in parts of the world continued to weigh on demand prospects, limiting gains for the commodity.

On Tuesday, West Texas Intermediate crude for August
CLQ20,
+0.44%

rose 20 cents, 0.5%, at $40.83 a barrel on the New York Mercantile Exchange, after ending marginally lower on Monday.

Global benchmark Brent oil for September
BRNU20,
+0.60%

climbed by 20 cents, or 0.5%, at $43.30 a barrel on the ICE Futures Europe exchange, following a…



Source marketwatch.com

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