By Reuters | TOKYO |
Topics Oil Prices | Crude Oil Price | Coronavirus Vaccine
TOKYO (Reuters) - Oil rose for a fifth day on Thursday after a surprise fall in U.S. crude inventories gave further legs to a rally driven by optimism that vaccines will end the coronavirus pandemic and revive demand for fuels.
Brent futures were up 45 cents, or 0.9%, at $49.06 a barrel by 0245 GMT, after rising around 1.
6% in the previous session. West Texas Intermediate crude was up by 34 cents, or 0.7%, at $46.05 a barrel, having gained 1.8% on Wednesday. Both benchmarks have risen about 9% this week, getting a boost after AstraZeneca.
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