Oil extends gains after fall in US stocks
Brent rises after an industry report shows a further drop in inventories and investors shrug off worsening developments in the pandemic
13 January 2021 - 07:50
Tokyo — Oil prices rose on Wednesday, with US crude gaining for a seventh day, after an industry report showed a further drop in inventories and investors shrugged off worsening developments in the pandemic.
US West Texas Intermediate (WTI) was up 40c, or 0.8%, at $53.61 a barrel by 1.28am GMT after gaining nearly 2% on Tuesday. Brent crude was up 47c, or 0.8%, at $57.05, having risen 1.7% in the previous session...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.