Crude oil prices moved sharply higher on Tuesday, extending gains from previous session, amid continued optimism about increased demand for fuel in the U.S. and parts of Europe during the summer.
Traders bet on hopes that relaxations in restrictions on movement in the U.S. will help lift oil demand. However, the surge in coronavirus cases in Asia, especially in India and Japan, has raised concerns energy demand from the region will drop amid the rising possibility of a shutdown.
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