Tag
BRENT CRUDE
Investor sentiment as measured by market breadth was negative with 22 decliners and 18 advancers.
Brent crude surged by 1.8%, at $63.52 a barrel, after rallying to a session high of $63.76, the highest price sighted since Jan. 22, 2020
Brent crude futures closed at $62.43 after rising to an intra-daily session high of $62.83, the highest price level since Jan. 22, 2020
Brent crude futures dropped 0.6% at $60.80 a barrel having dropped 0.50% on Thursday.
Brent oil futures lost about 0.2% to trade around $61 a barrel
Both major oil benchmarks are at their highest since January 2020.
At the time of writing this report, Brent crude traded at $59.95 a barrel thereby reaching a 1-year high.
Oil traders are going long on hopes that a $1.9 trillion stimulus package proposed by Joe Biden last month would see the light of day.
Brent crude futures rose by 0.3%, to $57.62 a barrel, in a fourth straight day of gains after hitting $58.05 on Tuesday.
Oil prices rallied after industry data showed U.S. crude inventories dropped unexpectedly last week amid fears that the COVID-19 infection,
Brent crude was down by 0.24% to trade at $55.12 barrel, and WTI futures inched down by 0.10% to $52.22 a barrel.
West Texas Intermediate, lost 1.6%, at $52.27 per barrel. It was WTI's worst daily plunge slide since last Friday when it fell 2.2%.