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Oil prices rise on expected economic recovery, likely drawdown in oil stocks

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Oil prices rose on Tuesday on expectations of a recovery in the global economy after U.S. Senate approval of a $1.9 trillion stimulus bill and on a likely drawdown in crude oil inventory in the United States.

FILE PHOTO: The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS/Christian Hartmann

Brent crude futures for May rose by 32 cents, or 0.5%, to $68.56 a barrel by 0125 GMT, while U.S. West Texas Intermediate crude for April rose 19 cents, or 0.3%, to $65.24. “Brent is currently holding up above $68, suggesting speculators are likely dipping their toes back in after yesterday’s chaos.”

 

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Yea I'm sure the strikes on oil facilities in the middle east have nothing to due with it

No its rising because an idiot became US President and his first Mid East action was to encourage the terrorist Iran backed Houthies in Yemen to continuously attack Saudi oil fields

The USA was at one time not dependant on foreign oil

I'm very pleased to celebrate my cashout with everyone in the group. Indeed I'm happy and DavidLingleyBT is really a genuine paying man the whole world needs to know how good and generous he is.

'Economic recovery stagnates due to rising oil prices'

RT : Oil prices rise on expected economic recovery, likely drawdown in oil stocks

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In shift, oil industry group backs federal price on carbonThe oil and gas industry's top lobbying group endorsed a federal price on carbon dioxide emissions that contribute to global warming, a reversal of longstanding policy that comes as the Biden administration has pledged steps to address climate change. If they like it, it can't be good. i guess when biden overhauled towards green energy, the oil giants had to adjust. In the meantime gas prices are going up, which i won't be able to afford
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