Oil prices rose – Ibna

Oil rose for the third time on Tuesday amid expectations of rising fuel demand, as the United States may expand its pandemic aid payments and reach a final agreement to stabilize, according to IBNA. Established in trade between Europe and Britain.

Brent crude was up 23 cents, or 0.5 percent, at $ 51.09 a barrel, and West Texas Intermediate was up 23 cents, or 0.5 percent, at $ 47.85 a barrel.

While the US House of Representatives voted to increase pandemic aid payments from $ 600 to $ 2,000, crude oil along with earnings on Asian stocks rose as Japan stocks hit a 30-year high. The Senate has yet to vote on the bill.

Forecasts to boost US crude stocks have also boosted price support.

US crude inventories were forecast to decline last week, while refined inventories are likely to increase.

However, worries about the Corona virus holiday limit the profits.

A new strain of the virus in the UK has pushed back restrictions, hit short-term demand and pushed up prices, while hospitalizations and infections have risen in parts of Europe and Africa. .

The January 4 meeting of OPEC Plus is also on the market.

OPEC Plus is cutting its oil production record this year to support the market. The group is set to increase production to 500,000 barrels per day in January, and Russia supports a similar increase in February.

On Monday, Russian Deputy Prime Minister Alexander Novak said he expected 5 million to 6 million barrels per day of surplus oil demand in 2021, a year when he was not completely out of the epidemic.

The US Commodity Futures Trading Commission announced on Monday that monetary executives increased US crude futures positions in the week ending December 21.