Oil prices up as Britain, EU reach post-Brexit deal before deadline
December 25, 2020
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CALGARY, Alberta/LONDON - Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week.
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The market built gains overnight as Britain and the European Union reached a post-Brexit trade deal, reversed those gains, and then rebounded during the U.S. session to end modestly higher.
OIL’S UGLY 2020 AND 5 WILD CARDS IN 2021
U.S West Texas Intermediate (WTI) crude CLc1 settled up 11 cents to $48.23 a barrel, while Brent crude futures settled 9 cents higher at $51.29. Volumes were light on the last trading day before the Christmas holiday.