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Oil Rises on Tight US Stocks as Winter Blast Hits

Started by Epoch-Times-Bot, Dec 22, 2022, 07:42 AM

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Epoch-Times-Bot

Dec 22, 2022, 07:42 AM
Oil Rises on Tight US Stocks as Winter Blast Hits

LONDON—Oil prices climbed for a fourth straight day and hit their highest in two and a half weeks on Thursday with U.S. crude, heating oil, and jet fuel stocks growing tighter just as a wintry blast hits the United States.
Brent crude futures gained $1.17, or 1.4 percent, to trade at $83.37 at 1235 GMT, extending gains of around 2.7 percent from the previous session.
U.S. West Texas Intermediate (WTI) crude futures were up $1.11, or 1.4 percent, at $79.40 a barrel.
Both benchmark contracts jumped on Wednesday after government data showed U.S. crude inventories fell by much more than analysts had expected, posting a drop of 5.89 million barrels for the week ending on Dec. 16....

Source: Oil Rises on Tight US Stocks as Winter Blast Hits

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Aug 26, 2024, 08:27 AM
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