Oil rose on Wednesday, December 30, as prices received a boost from a fiscal stimulus package to mitigate the repercussions of the Coronavirus in the United States and lower crude oil inventories.<\/p>\n\n\n\n
Brent crude futures rose 35 cents, or 0.7%, to $ 51.44 a barrel by 08:03 GMT, and US West Texas Intermediate crude added 30 cents, or 0.6%, to $ 48.30 a barrel.<\/p>\n\n\n\n
The dollar fell to its lowest level in several years against many currencies, as dealers set aside a new delay in providing stimulus money in the United States and kept their bets that providing additional financial aid is still likely.<\/p>\n\n\n\n
Asian stocks rose to record levels as investors bet on a strong economic recovery next year, at a time when there are few indications that policymakers will scale back massive stimulus efforts aimed at stemming declines caused by the Corona virus.<\/p>\n\n\n\n
Oil prices may gain more strength as virus immunization programs start around the world in the next exhaust, allowing countries to ease restrictions on movement and company activities.<\/p>\n\n\n\n
Data from the American Petroleum Institute shows that crude oil inventories fell by 4.8 million barrels last week to about 492.9 million barrels, beating analysts’ expectations in a Reuters poll, down 2.6 million barrels.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil rose on Wednesday, December 30, as prices received a boost from a fiscal stimulus package to mitigate the repercussions of the Coronavirus in the United States and lower crude oil inventories. Brent crude futures rose 35 cents, or 0.7%, to $ 51.44 a barrel by 08:03 GMT, and US West Texas Intermediate crude added …<\/p>\n","protected":false},"author":9,"featured_media":34232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6975,6846],"class_list":["post-39196","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-crude","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=39196"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39196\/revisions"}],"predecessor-version":[{"id":39198,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39196\/revisions\/39198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/34232"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=39196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=39196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=39196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}