Oil steady despite new virus worries and US stimulus concern
The threat to near-term fuel demand from the new virus strain has rippled across crude markets
23 December 2020 - 13:10
London — Oil steadied near $47 a barrel in New York after coming under pressure from signs of increased US supply and the resurgence of the pandemic.
West Texas Intermediate (WTI) futures recouped earlier losses, though remain about 4% down this week. The American Petroleum Institute (API) said US crude inventories rose by 2.7-million barrels last week, according to people familiar with the data. That would be the second weekly increase in three if confirmed by official figures due later on Wednesday...
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