Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady e...
LONDON - Brent oil hit a 2019 high above $72 a barrel on Wednesday, propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signaled firm demand, while global supply remained tight.
U.S. West Texas Intermediate crude futures were at $64.39 per barrel, up 34 cents or 0.53 percent and just shy of a 2019 high of $64.79 hit last week. “The demand side of the equation got a substantial fillip via today’s China data suggesting prices will continue to move higher on improving global growth and risk sentiment,” said Stephen Innes, head of trading at SPI Asset Management.
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