Oil prices advanced today and were heading for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide. Brent crude was up 14 US cents, or 0.3 percent, at US$45.10, heading for a gain of about 1.6 percent this week. West Texas Intermediate had gained 12 US cents, or 0.3 percent, at US$42.36. The U.S. benchmark is heading for a gain of nearly 3 percent this week.

Source: The Standard August 13, 2020 18:00 UTC