Oil rises on hopes US stimulus will spur fuel demand
OPEC+ meeting on January 4 looms over the market
Reuters
December 29, 2020
LONDON:
Oil rose on Tuesday as the United States moved towards expanding pandemic aid payments, potentially spurring fuel demand and stimulating economic growth, which pushed investors to take on more risk.
Brent crude was up $0.72, or 1.4%, at $51.58 a barrel by 1057 GMT, while US West Texas Intermediate (WTI) crude futures added $0.67, or 1.4%, to $48.29 a barrel.
“Oil appears to be underpinned by the passing of the US stimulus and government funding omnibus legislation,” Oanda market analyst Jeffrey Halley said.
The Democratic-led US House of Representatives voted to meet President Donald Trump’s demand for $2,000 Covid-19 relief cheques on Monday. The Republican-controlled Senate will still need to vote on the measure.
Oil rises on hopes U S pandemic stimulus will spur fuel demand reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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Nord Stream 2 gas pipeline says has completed section in German waters reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
UPDATE 1-Nord Stream 2 gas pipeline says has completed section in German waters Reuters 12/28/2020
(Updates with Nord Stream 2 statement)
MOSCOW, Dec 28 (Reuters) - The Russia-led Nord Stream 2 consortium said on Monday it has completed laying pipes for the project in German waters, finishing work on a 2.6 kilometre-long portion of the pipeline, which had been stalled by the threat of U.S. sanctions. We have completed this work, the consortium said in an emailed statement, referring to the pipe-laying in the German economic zone.
Earlier on Monday, Refinitiv Eikon data showed the Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in Germany s section of the Baltic Sea.