Crude oil prices rise on dip in US crude stockpiles & IEA data
NEW YORK: Oil prices rose on Thursday after the International Energy Agency forecast lower global stockpiles in the second half of 2020, even as worries remain over a second surge in coronavirus infections in coming months.
Crude prices have ticked up in the last two weeks as some countries relaxed coronavirus restrictions and lockdowns to allow factories and shops to reopen.
Brent crude futures rose 88 cents, or 3 percent, to $30.07 a barrel, at $30.12 per barrel at 1530 GMT (1130 EDT).
US West Texas Intermediate (WTI) crude futures rose 81 cents, or 3.2 per cent, to $26.10 a barrel.
