Oil adds to its overnight gains
The expectation of US stimulus spending that will lift fuel demand and draw down crude stocks supports the market
20 January 2021 - 11:55
Melbourne/Singapore — Oil prices rose on Wednesday, building on solid gains overnight, thanks to a combination of a weaker dollar and the expectation the incoming US administration will deliver huge stimulus spending that would lift fuel demand and draw down crude stocks.
US West Texas Intermediate (WTI) crude futures climbed 41c, or 0.77%, to $53.39 a barrel at 7.50am GMT, building on a 1.2% rise on Tuesday...
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