Oil drops on surprise US crude stocks and stimulus setback
Higher than expected oil inventory built and Trump's call for changes to stimulus bill sends crude prices lower
23 December 2020 - 06:55
Melbourne — Oil fell in early trade on Wednesday after industry data showed US crude oil stocks rose last week and US President Donald Trump rattled markets by threatening not to sign a long-awaited Covid-19 relief bill.
US West Texas Intermediate (WTI) crude futures fell 46c, or 1%, to $46.56 a barrel, while Brent crude futures dropped 46c, or 0.9%, to $49.62...
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