Oil prices up as US crude inventories fall
Concerns about a resurgence in coronavirus cases in China, the world’s second-biggest oil user, were also eased, helping support oil
27 January 2021 - 12:27
London — Oil rose above $56 a barrel on Wednesday after industry data showed US crude inventories fell unexpectedly and as concerns eased about a resurgence in coronavirus cases in China, the world’s second-biggest oil user.
Industry group the American Petroleum Institute (API) said US crude inventories fell by 5.3-million barrels. Analysts had expected them to rise. Official inventory figures are due at 3.30pm GMT from the Energy Information Administration (EIA)...
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