Oil Rises After Surprise Drop In U.S. Inventories Offsets Demand Concerns : LIVE NEWS UPDATE BY ROYAL TRADERS

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Oil Rises After Surprise Drop In U.S. Inventories Offsets Demand Concerns   : 
 
Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.
 
Brent crude futures (LCOc1) were up by 14 cents, or 0.3%, at $43.36 a barrel by 0326 GMT, after dropping 0.4% on Tuesday.
 
U.S. West Texas Intermediate crude futures (CLc1) gained 2 cents, or 0.1%, to $41.06 a barrel, having dropped 1.4% in the previous session.
 

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