Brent crude fell 40 cents, or 0.7%, to $61.07 a barrel, as of 0350 GMT, after a strong run in recent days driven by the Organisation of Petroleum Exporting Countries and its allies, known as OPEC+, agreed output cuts
Crude oil prices rise to Rs 3,888 per barrel on firm spot demand
On the Multi Commodity Exchange, crude oil for Thursday delivery traded higher by Rs 17, or 0.44 per cent, at Rs 3,888 per barrel in 2,114 lots
PTI | January 14, 2021 | Updated 16:43 IST
West Texas Intermediate crude oil rose by 0.59 per cent to USD 53.22 per barrel
Crude oil prices rose by Rs 17 to Rs 3,888 per barrel on Thursday as participants widened their positions on firm spot demand.
On the Multi Commodity Exchange, crude oil for Thursday delivery traded higher by Rs 17, or 0.44 per cent, at Rs 3,888 per barrel in 2,114 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade.
Oil prices rise as US crude gains for seventh day
US West Texas Intermediate (WTI) was up 40 cents, or 0.8%, at $53.61 a barrel by 0128 GMT after gaining nearly 2% on Tuesday
Reuters | January 13, 2021 | Updated 08:59 IST US shale producers response to the rally in oil represents the most significant near-term supply risk for oil, said Stephen Innes, chief global market strategist at Axi
Oil prices rose on Wednesday, with US crude gaining for a seventh day, after an industry report showed a further drop in inventories and investors shrugged off worsening developments in the pandemic. US West Texas Intermediate (WTI) was up 40 cents, or 0.8%, at $53.61 a barrel by 0128 GMT after gaining nearly 2% on Tuesday. Brent crude was up 47 cents, or 0.8%, at $57.05, having risen 1.7% in the previous session.