Crude oil futures ended higher on Wednesday as data showed a drop in US crude inventories in the week ended November 27. Data from Energy Information Administration (EIA) showed crude inventories in the US dropped by 0.679 million barrels last week. The EIA data also showed Distillate stockpiles were up 3.238 million barrels in the week, as against expectations for a 0.209 million barrel drop. Besides, positive updates on the vaccine front contributed as well to oil's uptick. The U.K. has approved the coronavirus vaccine developed by Pfizer and BioNTech. The vaccine is expected to be rolled out next week.
Crude oil futures for January rose $0.73 or 1.6 percent to settle at $45.28 a barrel on the New York Mercantile Exchange. February Brent crude gained $0.78 or1.65 percent to settle at $48.20 a barrel on London's Intercontinental Exchange.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: