U.S. oil futures score back-to-back gains
Oil futures finished higher on Thursday, a day after U.S. prices posted a modest rise. "China's reopening is bullish for commodities, full stop," said strategists at RBC Capital Markets. Oil traders are also looking ahead to a committee meeting of major oil producers set to discuss developments in the market on Feb. 1, as well as the European Union's ban on Russian oil products on Feb. 5. U.S. benchmark West Texas Intermediate crude for March delivery climbed by 86 cents, or 1.1%, to settle at $81.01 a barrel on the New York Mercantile Exchange.
-Myra P. Saefong
(END) Dow Jones Newswires
January 26, 2023 15:02 ET (20:02 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.