Oil rises on signs of firmer demand, fall in U.S. crude stocks


An offshore oil platform is seen with a tanker in the distance on April 20, 2020 in Huntington Beach, California.

Michael Heiman | Getty Images

Oil prices rose on Wednesday amid signs of improving demand and a drawdown in U.S. crude inventories but worries over the economic fallout from the coronavirus pandemic capped gains.

Brent crude futures for July delivery were up 23 cents, or 0.7%, at $34.88 per barrel at 0347 GMT.

U.S. West Texas Intermediate (WTI) crude futures for July were up 14 cents, or 0.4%, at $32.10 a barrel. The July contract closed on Tuesday at $31.96, up 1%.

The June contract expired on Tuesday at $32.50 a barrel, up 2.1%, as the WTI futures market avoided the chaos of…


Walmart (WMT) earnings Q1 2021 soar during coronavirus crisis

Previous article

Gavin Newsom not worried about Elon Musk moving Tesla from California

Next article

You may also like

Leave a Reply

Notify of

More in Energy