KONTAN.CO.ID - NEW YORK. Oil prices rose about $1 a barrel on Tuesday, hitting the highest level in more than four months with a boost from a European Union stimulus deal and hopeful news about coronavirus vaccine trials. Brent crude futures settled at $44.32 barrel, rising $1.04, or 2.4%. West Texas Intermediate (WTI) settled at $41.96 a barrel, gaining $1.15, or 2.8%. Prices pared gains in post-settlement trade after the American Petroleum Institute, an industry group, reported U.S. crude inventories grew last week by 7.5 million barrels compared with expectations for a draw of 2.1 million barrels.
Oil prices up on virus vaccine hopes, EU stimulus deal
KONTAN.CO.ID - NEW YORK. Oil prices rose about $1 a barrel on Tuesday, hitting the highest level in more than four months with a boost from a European Union stimulus deal and hopeful news about coronavirus vaccine trials. Brent crude futures settled at $44.32 barrel, rising $1.04, or 2.4%. West Texas Intermediate (WTI) settled at $41.96 a barrel, gaining $1.15, or 2.8%. Prices pared gains in post-settlement trade after the American Petroleum Institute, an industry group, reported U.S. crude inventories grew last week by 7.5 million barrels compared with expectations for a draw of 2.1 million barrels.