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


(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


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