Oil prices firm on optimism over declining stocks @WWW.MCXRESEARCHGURU.COM 8859222859

Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil production shows signs of slowing.

Brent crude futures had risen 36 cents, or 0.7 percent, to $50.56 a barrel by 0332 GMT, after rallying more than 3 percent on Tuesday.

U.S. West Texas Intermediate futures climbed 46 cents, or 1 percent, to $48.35 a barrel.

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to toolbar