UPDATE 8-Oil edges up to highest since March on hopes for U.S. stimulus

* Brent closes at highest since March
* U.S. politicians make progress on coronavirus aid bill
* New U.S. coronavirus cases fall to lowest since early July
* U.S. crude, gasoline stocks seen lower, distillates up
-poll
* Coming Up: API data on U.S. oil stockpiles at 4:30
p.m./2030 GMT

(Adds latest prices)
By Scott DiSavino
NEW YORK, Aug 4 (Reuters) - Brent oil futures on Tuesday
closed at their highest since early March on hopes the United
States is making progress on a new economic stimulus package, as
well as curbing the coronavirus spread.
Brent LCOc1 rose 28 cents, or 0.6%, to settle at $44.43 a
barrel, its highest close since March 6. U.S. West Texas
Intermediate (WTI) crude CLc1 rose 69 cents, or 1.7%, to
$41.70, its highest finish since July 21.
Earlier in the day, both Brent and WTI were trading at their
highest since early March.
Those price moves came ahead of the release of an industry
report later Tuesday from the American Petroleum Institute that
is expected to show a decrease in U.S. crude stockpiles last
week. EIA/S "Crude prices turned positive on stimulus hopes and after
another positive round of economic data showed manufacturing
recovery continued in June," Edward Moya, senior market analyst
at OANDA in New York, said, pointing to better than expected
manufacturing data in Asia, Europe and the United States.
Negotiations between congressional Democrats and the White
House on a new round of coronavirus relief have begun to move in
the right direction, though the two sides remain far apart, the
U.S. Senate's top Democrat said on Tuesday. New U.S. coronavirus cases fell below 50,000 over the
weekend for the first time since early July, according to the
U.S. Centers for Disease Control.
Despite Tuesday's price rise, traders said crude remained
under pressure due to concerns a fresh wave of COVID-19
infections elsewhere in the world will hamper demand recovery
just as major producers ramp up output.
The Organization of the Petroleum Exporting Countries (OPEC)
and its allies, known as OPEC+, were boosting output this month
by about 1.5 million barrels per day. U.S. producers also plan
to restart shut-in production.
In Europe and Asia, meanwhile, concerns are growing that
coronavirus may be spreading in a global second wave, said Paola
Rodriguez Masiu of Rystad Energy.