Oil prices rise amid expectations from incoming US administration to lift fuel demand and draw down crude stocks

 

Oil prices rise amid expectations from incoming US administration to lift fuel demand and draw down crude stocks

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Oil prices today rose amid expectations that the incoming U.S. administration will deliver massive stimulus spending that would lift fuel demand and draw down crude stocks.
 
In intra-day trade, Brent crude prices were trading around USD 56.40 per barrel while WTI crude prices were around USD 53.70 per barrel.