Oil prices recovered after a 1% dip in the previous session on buoyant economic data from China and the United States, even as the surging COVID-19 pandemic in India capped prices.
Brent crude futures for July were at $68.40 a barrel by 0616 GMT, up 31 cents, or 0.5%, while U.S. West Texas Intermediate (WTI) crude for June rose 29 cents, or 0.5%, to $65.
Both Brent and WTI are on track for a second weekly gain as easing restrictions on movement in the United States and Europe, recovering factory operations and coronavirus vaccinations pave the way for a revival in fuel demand, while pent-up summer travel is likely to give gasoline and jet fuel consumption a further boost.
