Oil up for a fourth day on reduced stockpiles and vaccine hopes
Brent crude was up 1.1% and WTI crude gained 0.8% with one commentator forecasting Brent to hit $60 per barrel at the end of 2021
25 November 2020 - 12:45
London — Oil rose for a fourth straight session on Wednesday as the market shrugged off an industry report showing US crude stockpiles rose more than expected, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand.
Brent crude was up 53c, or 1.1%, at $48.39 a barrel by 9.56am GMT, having risen almost 4% in the previous session. West Texas Intermediate (WTI) crude gained 38c, or 0.8%, to $45.29, after rising more than 4% on Tuesday...
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