Oil Gains on Falling Stocks, Higher Demand Forecast

Prices rise following IEA’s bullish short-term outlook

Crude Oil: $49.31 barrel, Natural gas: 3.112/MMBtu, Gold:$1327.60 per troy oz


LONDON—Oil prices continued to climb Thursday morning, building on solid gains made Wednesday on shrinking global inventories and a bullish forecast for demand.

Brent crude, the global benchmark, was up 0.38%, at $55.37 a barrel in London midmorning trading. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up around 0.51%, at $49.55 a barrel.

The International Energy Agency on Wednesday said… Read more.

 Resource: WSJ