Equity News
Oil Continued Rally On Tuesday
Oil prices continued to rise on the decline highlighted by the data in oil inventories. On Tuesday per barrel price of WTI crude oil futures rose by +0.88 percent to $48.00 while that for February Brent crude oil futures increased by +0.45 percent to $51.09 per barrel. The rise in oil prices was driven by a report from the American Petroleum Institute (API) that US domestic crude oil inventories dropped 4.79 million barrels last week. If the data is confirmed today by the official EIA report on changes in oil and oil products reserves (the consensus forecast assumes a decrease
