Oil prices rise as vaccines raise hopes of demand increase
US oil inventories rose by 1.14-million barrels, but US output in 2021 is likely to fall less than forecast
09 December 2020 - 12:43
London — Oil prices rose on Wednesday as news about Covid-19 vaccines lifted investor hopes for a recovery in fuel demand and outweighed concerns sparked by figures indicating US oil inventories jumped last week.
Brent crude rose 57c, or 1.2%, to $49.41 a barrel by 9.55am GMT. US West Texas Intermediate (WTI) crude climbed 57c, or 1.3%, to $46.17...
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