Oil rises on declining U.S. crude stocks, hopes for COVID-19 vaccine

  • 📰 Reuters
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Oil prices climbed over 1% on Wednesday, after an industry report showed U.S. crude inventories have fallen more than expected, while hopes of an effective COVID-19 vaccine continued to bolster sentiment.

Although oil prices are supported by the positive news on vaccine, overall fuel demand outlook remains clouded amid re-imposed coronavirus restrictions in Europe and United States.

“Beyond these measures, demand will take a considerable time to recover - as international travel remains constrained.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Oil is finite.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines