Oil prices keep overnight gains as demand hopes offset U.S. stock build - Business News, Finance News, Share Market News - Market trendz

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Thursday, 22 July 2021

Oil prices keep overnight gains as demand hopes offset U.S. stock build

Brent crude slipped 21 cents, or 0.3%, to $72.02 a barrel at 0133 GMT, after rising 4.2% in the previous session. U.S. West Texas Intermediate (WTI) crude fell 18 cents, or 0.3%, to $70.12 a barrel, after rising 4.6% on Wednesday. "The market shrugged off a rise in (U.S.) commercial inventories ... with most of the gains occurring on the West Coast, a distribution system that is separate from the rest of the country," analysts from ANZ Bank said in a note.

from Commodities-Markets-Economic Times
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