Oil climbs as strong fuel market assuages recession worries
BNN: 'Oil climbed as traders weighed the odds of a global economic slowdown against a robust underlying market for crude and refined fuels. Brent added 1.5 per cent in London, while the most active West Texas Intermediate contract also traded higher. There was a renewed surge in the premium of refined fuels over crude, indicating a continued scarcity of supply in oil products like diesel. President Biden said he’s aiming to decide this week whether to move to suspend the federal gasoline tax.'