03:00 PM EDT, 05/03/2021 (MT Newswires) -- West Texas Intermediate (WTI) crude oil ended higher on Monday on expectations for higher demand after New York, New Jersey and Connecticut said they lift lockdown restrictions later this month, though worries over the spread of Covid-19 in India, the world's No.3 oil importer, limited gains.
WTI crude oil for June delivery closed US$0.91 to US$64.49 per barrel, Marketwatch reported. July Brent crude, the global benchmark, was last seen up US$0.891 to US$67.57 while Western Canada Select was up US$0.92 to US$52.44 per barrel.
The after the three U.S. states said they will lift most lockdown measures on businesses, with the New York Times reporting restaurants, offices, retail stores, theaters, museums, barber shops, amusement parks and gyms and fitness centers will all be allowed to operate at full capacity for the first time since restrictions were adopted last year.
The European Union also said it will welcome vaccinated tourists this summer, also raising hopes that the pandemic's end is near.
But despite the optimism, India continues to suffer through a rising wave of Covid-19 infections that has overwhelmed the country's health infrastructure, with record daily new infections and deaths hobbling economic activity. New infections are also on the rise in Japan and Brazil, even as