Bigger-than-expected decrease in US stocks lifts oil
Brent rises after a fall in crude inventories suggests demand is improving even as the coronavirus outbreak spreads around the world
01 July 2020 - 08:48
Tokyo — Oil prices rose more than 1% on Wednesday after data showed crude inventories in the US fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.
Brent crude rose 48c, or 1.2%, to $41.75 a barrel by 3.45am GMT after declining more than 1% on Tuesday. US crude was up 54c, or 1.4%, at $39.81 a barrel, having dropped by 1.1% in the previous session...
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