for trips abroad during the upcoming May Day holiday point to a continued recovery in travel to Asian countries. U.S. crude inventories are expected to fall by 1.7 million barrels in weekly supply reports.
Brent crude rose 10 cents to $82.83 a barrel at 0805 GMT, while U.S. West Texas Intermediate crude gained 15 cents to $78.91. Both contracts rose over 1% on Monday. "Investors expressed optimism that Chinese holiday travel would boost fuel demand in the world's largest oil importer," said Leon Li, an analyst at CMC Markets.
Source: News Formal (newsformal.com)
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