Oil Rises On Inauguration Day As Markets Eye Big Stimulus Act
Oil prices rose for a second consecutive day on Wednesday, as the market expects the incoming U.S. Administration to “act big” in the next COVID relief package.
As of 9:17 a.m. ET on Wednesday, which is Inauguration Day for President-elect Joe Biden, WTI Crude was up 1.53 percent at $53.77, and Brent Crude prices were trading above $56 a barrel—up by 1.16 percent at $56.52, very close to the 11-month high prices hit last week.
Original Article Source Credits: Oil Price , https://oilprice.com/
Article Written By: Tsvetana Paraskova
Original Article Posted on: Jan 20, 2021