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High oil prices

2021-01-20T21:43:33.513Z


New York-SANA Oil rose today on expectations that the administration of US President Joe Biden will launch an economic stimulus


New York-Sana

Oil rose today due to expectations that the administration of US President Joe Biden will launch a huge economic stimulus to alleviate the repercussions of the pandemic, which will increase the demand for fuel, as well as the adoption of policies that will lead to a scarcity of crude supply.

Reuters reported that Brent crude rose 18 cents to determine the settlement price at $ 56.08 a barrel, while US West Texas Intermediate crude closed at $ 53.24 a barrel, up 26 cents.

Biden is expected to take measures to rein in the US oil industry, including a plan to return to the Paris climate agreement, cancel the license for the Keystone XL oil pipeline, and stop drilling in the Arctic.

Source: sena

All business articles on 2021-01-20

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