-
Oil Ticks Higher on US Stockpile Decline and Wider Risk-On Mood
Oil advanced a second day, buoyed by shrinking US stockpiles and a wider risk-on mood triggered by signs of ebbing US inflation. West Texas Intermediate rose toward $79 a barrel after climbing 0.8% on Wednesday, while Brent closed below $83. US oil inventories posted a back-to-back drop for the first time since March, taking them to the lowest in a month. In broader markets, risk assets pushed higher after a measure of US inflation cooled for the first time in six months, offering scope for looser monetary policy from the Federal Reserve. That tugged the US dollar lower, making commodities more attractive for ... (full story)