Open Demo Account
Home / Market Update / Commodities / Oil Closes Higher and Maintains Upward Trend

Oil Closes Higher and Maintains Upward Trend

M. Ali 17 December, 2020 12:30 am Commodities, Market Update

Oil prices closed higher on Wednesday, amid hopes for a new stimulus package in the United States, and after a decline in US crude inventories last week.

Crude prices maintained their best levels since early March, as the global benchmark, Brent crude futures for February delivery gained 32 cents, or 0.6%, to close at $51.08 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery rose by 20 cents, or 0.4%, to finish at $47.82 per barrel.

Tags

Check Also

Oil Shock Lifts the Loonie: USD/CAD Slips as Energy Prices Surge

A sharp surge in global oil prices has shifted the tone in currency markets, pushing …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends