Pump jacks in California, the US. Picture: LUCY NICHOLSON/REUTERS
“Lower US inventories of crude and fuels as well as signs of a potential Brexit deal which led to a weaker US dollar were good news, but lingering worries over a new variant of the novel coronavirus capped gains,” he said. Oil prices also drew support from news that Britain and the EU were on the cusp of striking a narrow trade deal on Thursday, swerving away from a chaotic finale to the Brexit split.