Oil prices were up on Tuesday boosted by the World Health Organization’s statement that a vaccine for COVID-19 would be available in December.
International benchmark Brent crude was trading at $41.99 per barrel at 0640 GMT for a 0.65% increase after closing Monday at $41.72 a barrel.
American benchmark West Texas Intermediate (WTI) was at $39.69 a barrel at the same time for a 0.66% increase after ending the previous session at $39.43 per barrel.
Oil prices started the day on an upbeat sentiment as hopes for a demand recovery were boosted after the World Health Organization's (WHO) top scientist said COVID-19 vaccines would probably be available in December or early 2021 for submission to regulators for approval.
The number of COVID-19 cases worldwide is now over 37.8 million, according to the latest data from Johns Hopkins University.
While the US still tops the number of cases above 7.8 million as of Tuesday morning, India has increased its cases to over 7.1 million, and Brazil follows with over 5.1 million cases.
However, investor concerns over a supply glut on the global oil market persist.
The return of US energy firm crews to offshore platforms along the Gulf of Mexico, Norwegian workers to rigs after the end of a 10-day strike and the return of Libyan oil to the market put downward pressure on prices.
After the resumption of oil production in Libya, which is excluded from the current production agreement among members of the Organization of the Petroleum Exporting Countries and partner countries (OPEC+), the daily level of output reached almost 355,000 barrels per day.
Libya's national oil company announced on Sunday that it would resume production at the country's largest oil field as rival eastern and western Libyan officials began peace talks.
By Sibel Morrow