Oil rose for a third day as signs the physical market is tightening offset growing demand risks in China and the U.S.
There was also some support from wider markets, with European equities trading higher and U.S. futures also pointing to a firmer open on Monday. Meanwhile, some refined products such as diesel — the workhorse fuel of the global economy — have started pricing in scarcity this winter, boosting their premium to the oil from which they are made. Gasoline futures in New York have risen by 15 per cent this year, also outpacing crude.
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Oil Rises for Third Day as Tighter Market Vies With Demand Risks(Bloomberg) -- Oil rose for a third day as signs the physical market is tightening offset growing demand risks in China and the US. Most Read from BloombergBorrowers With $39 Billion in Student Loans Finally See ReliefPutin Turns to Ruble and Ballot to Shore Up Shaken AuthorityRolls-Royce Debuts Droptail Roadster, Priced at Over $30 MillionChina Urges More Loans, Debt Risk Reduction as Woes CompoundGlobal benchmark Brent traded above $85 a barrel, and is up around 2.5% since the close on Wednesd
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