8/24, 1:21 PM (Source: TeleTrader)
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Oil trades higher, Brent tops $70 per barrel

Crude futures continued to trade higher on Tuesday with Brent climbing back over $70 per barrel.

The rise was fueled by hopes of oil demand growth following the full approval of the Pfizer/BioNTech COVID-19 vaccine in the United States, as well as production disruption in Mexico.

Brent jumped 1.86% to sell for $70.03 per barrel at 7:09 am ET and West Texas Intermediate (WTI) rallied 1.84% to go for $66.85 per barrel at the same time.

Breaking the News / NP