Oil Inches Ahead Due to hopes from US stimulus package

Oil inches ahead due to hopes from US stimulus package

On Thursday, oil prices motioned ahead after the vote on the relief package worth $ 2.2 billion for the coronavirus pandemic was postponed by the US lawmakers. It hopped on the bipartisan deal. However, the rising cases fuelled demand fears. 

In the early trades, the Brent Crude Futures jumped to $42.33 per barrel, which is a change of 3 per cent. Notably, it fell by 0.2 the previous night. 

On the other side, in a shocking turnaround, the WTI crude Futures dipped by 1 per cent. It reached to $40.21 per barrel price by 0146 GMT. It had climbed by 2.4 per cent on Wednesday.

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