Commodities

Oil Prices Rise After Dud Week

Oil-Prices-Rise-After-Dud-Week

Bringing some consolation to investors, oil prices rose a little in the early session of Friday in Asia. The commodity saw encouraging figures after almost a dull week. However, it still remains on the lower side of the month.

WTI hiked to $40.50 that is an increment of 0.47 per cent. Meanwhile, Brent oil futures rose to $42.11, which is a hike of 0.41 per cent at 3:59 AM GMT.

Interestingly, both futures contracts have jumped above the $ 40 mark. It got encouraged after the US Energy Administration reported a fall in gasoline, crude oil and distillate inventories on Thursday. Notably, the hike came to an abrupt halt due to resurgence of the ongoing pandemic.

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