Categories: BusinessLatest

Brent Crude Prices Stay Above $51 a Barrel after API Data Showed Drop in Crude Oil Inventories

Brent crude prices held above $51 a barrel on Wednesday, after API data showed stocks of crude oil in the US declined by 4.8 million barrels in the week ended December 25th, marking the first fall in inventories since the week ended November 6th.

Also, the Trump administration began sending stimulus payments of up to $600 to millions of Americans on Tuesday evening, while Treasury Secretary Steven Mnuchin said the government would begin the process of mailing out paper checks on Wednesday for individuals without government-registered bank accounts. On the pandemic front, the US reported its first case of the mutant COVID-19 strain. This new strain has now been reported in at least 17 countries, according to media reports. Meanwhile, oversupply concerns grow as OPEC+ will gradually reduce output cuts from January.

Follow us on:

AriseNews

Recent Posts

CAC Removes Innoson, Daitama, 80,000 Dormant Companies From Register For Ignoring Annual Return Deadlines

The CAC has removed dormant companies that failed to file annual reports for 10 years…

8 hours ago

NEC Gives Kwara, Kebbi, Adamawa One Week To Submit State Police Reports

NEC has set a one-week deadline for Kwara, Kebbi, and Adamawa to submit state police…

10 hours ago

Amazon Faces Potential EU Investigation Over Preferential Treatment Of Own Products

Amazon may face an EU investigation over preferential treatment of its own products under the…

10 hours ago

Akpabio Hails Igbo Resilience + Ndume Begs Senate To Allow Ubah’s Widow Succeed Him – Trending With Ojy Okpe

https://cdn.veri.app/a21afe40-c7c7-4a5c-b145-4fc72382ab4b.mp4 Senate President, Godswill Akpabio, during the night of tribute, held in honour of the…

10 hours ago

Kano Governor Yusuf Reunites 76 Pardoned Minors To Families

The Kano State government has reunited 79 pardoned minors accused of looting in the #End…

10 hours ago

Matt Gaetz Steps Down as Trump’s Attorney General Pick

Matt Gaetz has announced that he is withdrawing his name from consideration as Donald Trump’s…

10 hours ago