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Oil Prices Rise on China Stimulus and Inventory Drop
Global oil prices rose on Thursday due to China's planned $411 billion fiscal stimulus, a decline in US crude inventories, and anticipation of increased fossil fuel demand under the incoming US administration; Brent crude reached $74.06, while West Texas Intermediate hit $70.72.
Oil Prices Rise on China Stimulus and Inventory Drop
Global oil prices rose on Thursday due to China's planned $411 billion fiscal stimulus, a decline in US crude inventories, and anticipation of increased fossil fuel demand under the incoming US administration; Brent crude reached $74.06, while West Texas Intermediate hit $70.72.
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