Oil Prices Rise but China’s COVID-19 Surge Limits Gains

Oil Prices Rise but China’s COVID-19 Surge Limits Gains
Oil barrels are pictured at the site of Canadian group Vermilion Energy in Parentis-en-Born, France, on Oct. 13, 2017. Regis Duvignau/Reuters
Reuters
Updated:

LONDON—Oil prices rose on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China.

Brent crude futures were up 50 cents, or 0.65 percent, at $80.30 a barrel by 1035 GMT, adding to a 76 cent gain in the previous session.