(Bloomberg) — Oil extended gains toward $42 a barrel in New York after an industry reported pointed to a bigger-than-expected decline in U.S. crude stockpiles, adding to bullish momentum after a vaccine breakthrough.The American Petroleum Institute reported crude inventories dropped by 5.15 million barrels last week, with gasoline and diesel stockpiles also decreasing, according to people familiar with the data. Official government figures are due Thursday. While early findings on a vaccine showed it protected most people from Covid-19, it’s likely to take some time to roll out if it proves effective.Oil has rallied more than 11% over the past …read more
Source:: Yahoo Finance
