Oil prices are up as US inflation fears recede
US crude stocks surge as its petrol stocks fall, just as vaccination in the US gains speed and fuel demand is likely to increase quickly
11 March 2021 - 14:10
London — Oil prices rose on Thursday on a weaker dollar as fears of rising US inflation eased while a steep fall in US fuel stocks meant a crude glut would be short-lived as refiners restart in Texas after last month’s freeze.
Brent crude oil futures for May rose $1.04, or 1.53%, to $68.94 a barrel by 10.06am GMT, while US West Texas Intermediate (WTI) crude for April was up $1.02, or 1.58%, at $65.46...
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