Oil rises on lower than expected US glut
The price has also been buoyed by signs that demand is starting to pick up
30 April 2020 - 07:55
Melbourne/Singapore — Oil prices jumped on Thursday, extending steep gains in the previous session on signs the US crude glut is not growing as quickly as expected and that gasoline demand battered by Covid-19 restrictions is starting to pick up.
West Texas Intermediate (WTI) crude futures climbed to a high of $17.35 a barrel and were up 14.3%, or $2.15, at $17.21 at 3.50am GMT. The US benchmark surged 22% on Wednesday...
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