• Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand

    24 Jun 2021 | Economic News
  

Oil gains as draw in U.S. crude stocks reinforces outlook for robust demand

 

Oil prices gained for a second day on Thursday after a bigger-than-expected drawdown in U.S. crude and gasoline stocks confirmed outlook for robust fuel demand and on doubts about the future of the 2015 Iran nuclear deal that could end U.S. sanctions on Iranian crude exports.

 

Brent crude futures rose 30 cents, or 0.4%, to $75.49 a barrel by 0643 GMT, after increasing 0.5% on Wednesday.

 

U.S. West Texas Intermediate (WTI) crude futures climbed 31 cents, or 0.4%, to $73.39 a barrel, after rising 0.3% on Wednesday.

 

Reference:  Reuters

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