Oil gains on US stimulus hope
Brent rises amid expectation stimulus spending will boost fuel demand and draw down crude stocks
20 January 2021 - 08:06
Melbourne/Singapore — Oil prices rose on Wednesday, adding to solid gains overnight, on the expectation the incoming US administration will go ahead with huge stimulus spending that would boost fuel demand and draw down crude stocks.
US West Texas Intermediate (WTI) crude futures climbed 37c, or 0.7%, to $53.35 a barrel at 0427 GMT, building on a 1.2% rise on Tuesday...
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