Oil Climbs With Signs of Stimulus Progress Aiding Demand Outlook
- Two sides are ‘just about there,’ House Speaker Pelosi says
- U.S. jobless claims decline for the third time in four weeks
The Well-Safe Guardian plug and abandonment rig, operated by Well-Safe Solutions Ltd, right, stands in the Port of Cromarty Firth in this aerial view in Cromarty, U.K.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Oil rose with signs of progress on a U.S. stimulus deal that could buoy the ailing demand outlook.
Futures in New York advanced 1.5% to near $41 a barrel Thursday, the second gain so far this week. House Speaker Nancy Pelosi said she and Treasury Secretary Steven Mnuchin are “just about there” on a deal for a coronavirus relief package even though the Senate still poses a hurdle. Prices were also bolstered after President Vladimir Putin said Russia’s ready to cut oil output further if needed.