Reported about 20 hours ago
Oil prices increased on Thursday due to optimism about further fiscal stimulus measures from China, the largest oil importer, and a report indicating a decrease in U.S. crude inventories. Chinese authorities are set to issue special treasury bonds worth 3 trillion yuan next year to stimulate the economy. Brent crude futures climbed to $73.97 a barrel, while U.S. West Texas Intermediate crude rose to $70.46, as the market reacts to the potential for improved demand alongside falling U.S. crude stock levels.
Source: YAHOO