Crude oil prices rise to US$53.88

Business | 13 Jan 2021 2:19 pm

Crude oil prices gained more than 1 percent on Wednesday, with U.S. crude rising for a seventh day, after industry data showed a bigger than expected drop in inventories and investors shrugged off worsening developments in the pandemic.

U.S. West Texas Intermediate (WTI) was up 67 US cents, or 1.3 percent, at US$53.88 a barrel by after gaining by nearly 2 percent on Tuesday. Brent crude was up 79 US cents, or 1.4 percent, at US$57.37, having risen by 1.7 percent in the previous session.

 

 



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