NEW YORK: Oil edged higher on Wednesday on expectations that U.S. President Joe Biden's administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten crude supply.
NEW YORK: Oil edged higher on Wednesday on expectations that U.S. President Joe Biden's administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten crude supply.
Biden, who was inaugurated on Wednesday, was set to take immediate measures to curb the U.S. oil industry, including a plan to re-enter the Paris climate accord, cancelling a permit for the Keystone XL crude oil pipeline and pausing planned drilling in the Arctic.
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