Dollar and US crude inventories Oil prices rise
Oil rose on Wnesday as the dollar weaken, U.S. crude inventories fell and Britain approv another coronavirus vaccine,
but both benchmark contracts were on track to end the year about 20% lower.
Brent crude futures were up 45 cents at $51.54 a barrel by 0101 GMT,
having start the year above $66. U.S. West Texas Intermiate (WTI) crude america phone number list was up 39 cents at $48.39, compar with $62 at the start of 2020.
Lingering concerns about coronavirus
Restrictions hitting fuel demand were met with some optimism. The U.S. dollar hit its lowest level against a basket of currencies what is the relationship between big data and artificial intelligence? since 2018, making oil cheaper for holders of other currencies.
Raising hopes for a quicker return to normal travel and work, Britain on Wnesday became the first country to approve a coronavirus vaccine develop by Oxford University and AstraZeneca.
Asian shares hit record highs as investors bet on a strong economic recovery next year, with little sign of policymakers winding down massive stimulus measures and the Unit States on the brink of agreeing a new package.
[MKTS/GLOB] U.S. crude inventories fell 4.8 million
Barrels last week to about 492.9 million barrels, API data show, beating analysts’ expectations in a Reuters poll of 2.6 million barrels.
[API/S] On the supply side, the market is fax list weigh down by a Jan. 4 meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+.
OPEC+ is set to raise output by 500,000 barrels per day (bpd) in January, with Russia backing another increase of the same amount in February after the group cut output in 2020 to support falling oil prices.
Oil rose on Wnesday amid a weaker dollar
A drawdown in U.S. crude stockpiles and Britain approving another coronavirus vaccine, but both benchmark contracts were set to end the year around 20% lower.
Brent crude futures were up 45 cents at $51.54 a barrel by 0101 GMT
, having start the year above $66. U.S. West Texas Intermiate (WTI) crude was up 39 cents at $48.39, compar with $62 at the start of 2020.
