Crude oil futures ended higher on Thursday on hopes big stimulus from the Biden administration and the Covid vaccination drive will help lift energy demand. The recent data showing a drop in US crude inventories and Saudi Arabia's decision to cut crude output by 1 million barrels per day in February and March also contributed to oil's advance. A weak dollar also supported crude prices.
Crude oil futures for February rose $0.66 or 1.3 percent to settle at $53.57 a barrel on the New York Mercantile Exchange. March Brent crude gained $0.25 or 0.4 percent to settle at $56.31 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: