London: Oil prices were mixed on Tuesday as optimism about the easing of coronavirus-related restrictions reassured markets, although traders remained cautious with storage capacities filling up fast and supply cuts not deep enough to counter falling demand.
Brent crude rose 78 cents, or 4%, to $20.77 a barrel at 1338 GMT, following a 6.8% slide on Monday. U.S. West Texas Intermediate (WTI) crude was down 46 cents, or 4%, at $12.32 a barrel.
The contract plunged 25% on Monday. "While wild price swings are set to last in the very near term, we see more upside than downside from prices around $20 per barrel.
The oil price should recover in the longer term," said Norbert Rücker, analyst at Swiss bank Julius Baer. From Italy to New Zealand,