OIL PRICE: ABOVE $56 ANEW
REUTERS - JANUARY 20, 2021 - Oil rose above $56 a barrel on Wednesday, supported by expectations the new U.S. administration will deliver massive stimulus spending that would lift demand, as well as by OPEC curbs and forecasts of a drop in U.S. crude inventories.
U.S. Treasury Secretary nominee Janet Yellen on Tuesday urged lawmakers to “act big” on pandemic relief spending. A fall in the dollar after the comments helped oil to rally, analysts said.
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