Oil prices near 1-year highs after stocks draw, supply deficit forecast
Both benchmark oil NSE 2.98 % contracts were close to their highest in about a year on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC+ has forecast that the market will be in deficit in 2021.
Brent crude futures were up 55 cents, or 1%, at $58.01 a barrel at 1245 GMT, their highest in about 11 months.
