Oil halts four-day drop, U.S. stockpile data supports

oil

(Reuters) – Brent crude extended gains on Thursday to hold above $51 a barrel, after an unexpected fall in U.S. crude stocks snapped a 4-session decline the previous day.

Data showing the U.S. economy remained resilient amid slowing global growth helped bolster oil, which was also supported by Chinese crude imports likely hitting a record high in December.

Brent crude marked an intraday high of $51.91 a barrel and was at $51.30 by 0543 GMT, up 15 cents. U.S. crude had risen 25 cents to $48.90 after touching a peak of $49.65.

Source: www.reuters.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s