Oil price tick up on tighter supply, bullish economic prospects

economy 05 Feb 2021

Oil price tick up on tighter supply, bullish economic prospects

Oil prices increased on Thursday, 4 February 2021 on strong US economic data, lower inventories, and OPEC+ decision to maintain the output cut.

Brent crude settled up 38 cents to $58.84/barrel.

WTI crude rose 54 cents to $54/barrel.