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Oil prices – US and China are driving price increases – UNIAN
US crude oil inventories fell last week.
Oil prices rose on Thursday, December 26, as hopes for additional fiscal stimulus in China emerged and US oil reserves fell. Reuters reports this.
Brent crude futures rose 39 cents, or 0.5%, to $73.97 a barrel. At the same time, the price of American WTI (West Texas Intermediate) oil increased by 43 cents, or 0.6%, to $70.53 per barrel.
“Additional support comes from the expectation of further fiscal and monetary stimulus in China,” the agency quoted Giovanni Staunovo from the UBS holding company as saying.
The American Petroleum Institute also reported that US crude oil inventories fell last week. This caused certain…
