Reported 8 months ago
Oil prices stabilized after a two-day gain due to a positive market sentiment despite an increase in US crude stockpiles. West Texas Intermediate traded near $82 a barrel, while Brent closed above $85. The optimism from the S&P 500 record high is affecting oil prices positively. Although the American Petroleum Institute reported a rise in US crude inventories, oil demand is picking up in Asia as refiners resume operations. Trading volumes in oil futures are expected to be lower due to a holiday in the US.
Source: YAHOO