Oil hits highest since September on trade hopes, OPEC cuts


LONDON, Dec 26 (Reuters) - Oil rose further above US$67 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower US crude inventories, by hopes of an end to the China-US trade dispute and OPEC-led efforts to constrain supply.

The American Petroleum Institute, an oil industry group, said late on Tuesday that US crude stocks fell by 7.9 million barrels last week, much more than the decline forecast by analysts.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Oil and gas , brent , crude oil

   

Next In Business News

Metal markets rush to adjust to clampdown
Apple’s US$1bil outlay may be a fleeting win
Nestl� Malaysia expands green programme to Sabah with partners
Google offers to loosen search agreements
Tether sees US$10bil in net profits for 2024
Qualcomm wins key chips trial against Arm
Higher gold prices expected to boost Malaysia’s exports
Demand for property to remain steady in 2025
Painting a brighter future
China property flare-ups resurface as crisis enters its fifth year

Others Also Read