Oil Stalls With Market Awaiting Stimulus, Vaccine Developments
- U.S. equities rise toward record amid stimulus talks
- Domestic crude stocks rose 1.14 million barrels last week: API
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Oil was little changed with the market weighing near-term demand risks from rising virus cases against hopes for more stimulus and a vaccine rollout.
Futures in New York fell slightly after choppy trading during much of the session. U.S. equities climbed toward a record amid news Republican congressional leaders plan to talk with the White House about Covid-19 relief. Meanwhile, further progress on a vaccine rollout that is seen as crucial to jump-starting a rebound in oil demand provided additional support.