Oil eked out a gain as prospects for bigger US aid checks dissipated. (Bloomberg) — Oil eked out a gain as prospects for bigger U.S. aid checks dissipated, tamping expectations for a near-term recovery and battering equities markets. Futures in New York closed 0.8% higher on Tuesday amid thin liquidity. Senate Republicans on Tuesday blocked an attempt by Democrats to increase direct stimulus payments in the newly enacted Covid-19 relief bill from $600 to $2,000. Higher stimulus checks could “invigorate oil demand,” said Bob Yawger, head of the futures division at Mizuho Securities. “Without the additional stimulus, it could be yet another drag on oil demand. That’s what is undermining oil futures now.” U.S. benchmark crude futures have risen almost 6 percent so far this month amid optimism around the development of Covid-19 vaccines, yet the timeline of a rollout is shaky. The pandemic continues to rage worldwide and […]