Oil prices rise on demand prospects as lockdowns start to ease

Oil prices rise on demand prospects as lockdowns start to ease
# 05 May 2020 06:15 (UTC +04:00)

Oil prices climbed in early trade on Tuesday, adding to gains in the previous session, on expectations that fuel demand will begin to pick up as some U.S. states and nations in Europe and Asia start to ease coronavirus lockdown, APA reports quoting Reuters.

Major blasts in an ammunition depot near Homs city on the same day were also believed to be from an Israeli strike, a war monitor and intelligence sources said.

Israel has acknowledged in recent years it has conducted many raids inside Syria since the start of the civil war in 2011 where it sees Iran’s presence as a strategic threat.

Israeli defence minister Naftali Bennett told Israeli media last week that Israel would step up its campaign against Iran in Syria.

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