Oil extended gains on Tuesday as a key pipeline bringing supply to the United States remained shut, adding to concerns about potential tightness in the world's biggest crude consumer.
Brent crude futures rose $1.33, or 1.7%, to $79.32 per barrel by 0725 GMT, while U.S. West Texas Intermediate crude futures gained $1.15, or 1.6%, to $74.32."Crude oil gained as supply-side issues offset concerns of weaker demand," said ANZ Research analysts Brian Martin and Daniel Hynes, in a note to clients on Tuesday.
Expectations are that the pipeline closure will cause U.S. crude inventories to decline. Seven analysts polled by Reuters estimated, on average, that stockpiles dropped by 3.9 million barrels in the week to Dec. 9.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Can you guess the most unfriendly state in the United States?In the U.S., each state has a personality of its own, and some states are known as being more welcoming than others. Attempting to quantify …
Read more »
Soccer journalist Grant Wahl’s body returned to United StatesThe body and possessions of soccer journalist Grant Wahl were repatriated to the United States on Monday after his death last week while covering the World Cup in Qatar, a senior State Department official said.
Read more »
Gold Price Forecast: XAU/USD lures bears on rising wedge confirmation ahead of United States inflationGold Price Forecast: XAU/USD lures bears on rising wedge confirmation ahead of United States inflation – by anilpanchal7 Gold XAUUSD Inflation SEO Fed
Read more »
The Reported Net Worths Of All 46 Presidents Of The United StatesThe US president to massive multimillion dollar book deal pipeline that's happening in the late 2010s is honestly fascinating.
Read more »
Soccer journalist Grant Wahl's body arrives at New York's JFK AirportThe body of soccer journalist Grant Wahl is back in the United States.
Read more »