COMMODITY
Crude oil futures end higher for 4th straight session on Thursday
Apr-16-2021

Crude oil futures ended higher for 4th straight session on Thursday continuing to ride on the recent upward revision in the global oil demand forecast by the International Energy Agency. Official data from the Energy Information Administration (EIA) that showed a larger than expected drop in crude inventories in the US last week also continued to support oil prices. The IEA has sharply raised its world oil demand estimate for 2021, pointing to further signs that the global economy is recovering faster than previously expected, particularly in the U.S. and China.

Crude oil futures for May rose $0.31 or 0.5 percent to settle at $63.46 barrel on the New York Mercantile Exchange. June Brent crude gained $0.54 or 0.54 percent to settle at $66.94 a barrel on London's Intercontinental Exchange.

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