Author: Andres Guerra Luz and Grant Smith

Oil slipped as nations reimposed tighter lockdown restrictions in hopes of containing a resurgent pandemic that is depressing demand.

Oil extended gains above $40 a barrel in New York as shrinking crude stockpiles and speculation that the Federal Reserve will keep interest rates low raised hopes that an economy ravaged by the pandemic may be on the mend.

Oil extended gains above $40 a barrel in New York as shrinking crude stockpiles and speculation that the Federal Reserve will keep interest rates low raised hopes that an economy ravaged by the pandemic may be on the mend.