Oil Holds Gains With Stockpiles Draw Adding to Vaccine Optimism

SourceBloomberg
SectorOil & Gas
CountryGCC

Oil pumping jacks, also known as "nodding donkeys"in a Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020.  Photographer: Andrey Rudakov/Bloomberg Photographer: Andrey Rudakov/Bloomberg Oil held gains at an eight-month high after a surprise drop in U.S. crude stockpiles and a weaker dollar supported prices that have been boosted by vaccine breakthroughs.Futures in New York were steady near $46 a barrel after closing up 1.8% on Wednesday.

U.S. oil inventories fell by 754,000 barrels last week, government data show, ...read more...