Oil rises as inventories fall and on economic recovery optimism
Goldman Sachs sees oil prices rising to $65 by July as Opec oil output rose in January, but less than forecast
01 February 2021 - 12:50
London — Oil prices rose on Monday, buoyed by falling inventories and hopes of a swifter global economic recovery, though halting vaccine rollouts and renewed travel restrictions capped gains.
Brent crude was up 46c, or 0.8%, at $55.50 a barrel by 10.02am GMT. US West Texas Intermediate (WTI) crude gained 31c, or 0.6%, to $52.51. Both benchmarks gained nearly 8% in January...
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