Oil gains from vaccine hopes even as stocks rise
Brent shrugs off an industry report showing a higher-than-unexpected rise in US crude stockpiles and extends a rally
25 November 2020 - 07:36
Tokyo — Oil rose for a fourth consecutive day on Wednesday, shrugging off an industry report showing a higher-than-unexpected rise in US crude stockpiles and extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand.
Brent crude was up 54c, or 1.1%, at $48.40 a barrel by 2.47am GMT, having risen almost 4% in the previous session. West Texas Intermediate (WTI) crude gained 47c, or 1.1%, to $45.38 a barrel, after rising more than 4% on Tuesday...
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