Thursday 4 February 2021

Oil rises on economic optimism, tightening supplies | Reuters

Oil rises on economic optimism, tightening supplies | Reuters

Oil rose on strong U.S. economic data, falling inventories and a decision by the Organization of the Petroleum Exporting Countries and producer allies to stick to its output cuts. But a stronger dollar limited price gains.

Brent crude futures settled up 38 cents at $58.84 a barrel. U.S. crude futures added 54 cents to settle at $56.23 a barrel.

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