Oil Gains on Seasonal Demand

Oil Gains on Seasonal DemandOil Gains on Seasonal Demand

Oil prices gained on Tuesday, recouping some of the previous session's losses, as higher seasonal demand in developed economies offset the impact of a large global supply overhang. Demand for oil tends to increase in the summer months as drivers take to the roads for holidays in Europe and the United States, Reuters reported. Brent for July delivery was up 95 cents to $63.64 a barrel, having settled down 62 cents in the previous session.