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Lockdowns are easing in some of the European countries and US cities. This has rekindled hope of demand rise in the market and led to the rise in oil prices on Wednesday. WTI showed a significant increase of 8.8% and was traded at $13.43 a barrel. Brent was up by 1.8% and was traded at $20.82 a barrel. Meanwhile, deceiving the market fear, US storages are filling less rapidly.
