Brent crude futures gained 25 cents, 0.3%, to $8
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Posted On: 01/25/2024 5:36:46 AM
Brent crude futures
gained 25 cents, 0.3%, to $80.29 a barrel as at 0430 GMT, while U.S. West Texas Intermediate
crude climbed 31 cents, or 0.4%, to $75.40 a barrel.
“A significant drop in the U.S. oil inventories and expectations of China’s economic recovery and more stimulus measures supported oil prices,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.
“Tensions in the Middle East were also behind buying,” he added.
gained 25 cents, 0.3%, to $80.29 a barrel as at 0430 GMT, while U.S. West Texas Intermediate
crude climbed 31 cents, or 0.4%, to $75.40 a barrel.
“A significant drop in the U.S. oil inventories and expectations of China’s economic recovery and more stimulus measures supported oil prices,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.
“Tensions in the Middle East were also behind buying,” he added.
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