Oil edged higher on signals of steady demand ahead

International benchmarks for crude oil edged higher on Tuesday, 27 April 2021 even after OPEC+ signal that the group would stick to the initial plan of raising output gradually starting 1 May, as investors interpreted the move as a signal to a steady demand ahead despite the COVID-19 situation in India.

Brent gained 77 cents, or 1.16% to $66.42/barrel.

WTI jumped $1.03, or 1.64% to $62.99/barrel.