Oil prices rise on optimism about US and European economic recoveries

Oil prices rose on optimism about U.S and European economic recoveries and hopes that OPEC and its allies will keep production curbs in place considering surging Covid-19 cases worldwide.   In intra-day trade, the Brent was trading around 63 dollars and 10 cents per barrel while WTI crude prices were around 59 dollars and 60 cents per barrel.