Crude edges up as Biden aims to ban oil drilling in US

Tuesday, 26. January 2021 15:17

Prices of oil traded in the green territory on Tuesday after media reports hinted that United States President Joe Biden is looking to introduce a ban on oil and gas drilling in the country as a part of his plan on battling climate change.

Meanwhile, investors await private data on US crude oil inventories that is set to be released by the American Petroleum Institute later in the day.

West Texas Intermediate (WTI) for deliveries in March added 0.47% to go for $53.02 per barrel at 9:04 am ET, while Brent for the same month's settlement advanced by 0.50%, trading for $56.15 per barrel two minutes later.

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