Oil pushes back above $50 a barrel for first time since mid-December

Oil rallied Wednesday on continued optimism over U.S.-China trade talks and industry data pointing to a fall in domestic inventories, pushing U.S. futures back above $50 a barrel for the first time since mid-December.

More closely watched data from the Energy Information Administration due for release later Wednesday is expected to show crude inventories fell by 1.4 million barrels, according to a survey of analysts by S&P Global Platts, while gasoline stocks are forecast to rise 4.2 million barrels and distillate inventories are expected to show an increase of 4.3 million barrels.
more at: https://www.marketwatch.com/story/oil-pushes-back-above-50-a-barrel-for-first-time-since-mid-december-2019-01-09

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