Chemical tanker Nordic Sound passes silos at the Total petrochemical plant at the Port of Le Havre in Le Havre, France. Picture: BLOOMBERG/NATHAN LAINE
Brent futures were up 45 US cents, or 0.9%, at $49.06 a barrel by 2.45am GMT, after rising around 1.6% in the previous session. West Texas Intermediate crude was up by 34c, or 0.7%, at $46.05 a barrel, having gained 1.8% on Wednesday. Encouraging vaccine results are “pushing aside concerns of enduring containment measures and prompting some follow-through buying from the speculative community”, Citigroup Global Markets said in a note.US oil stockpiles fell 754,000 barrels last week, data showed, while analysts in a Reuters poll had predicted a 127,000-barrel rise. Stockpiles at the Cushing, Oklahoma, delivery point for WTI, fell by 1.7-million barrels.
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US doubles down on barring US investment in Chinese firms with alleged military linksThe US says the move ensures US capital does not contribute to the development of the China’s military, intelligence, and security services
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