Oil bounces off November lows, but bloated U.S. stockpiles pressure market
Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.94 per barrel at 0146 GMT, up 30 cents, or 0.59 percent, from their last close. That came after Brent briefly dipped below $50 a barrel the previous session for the first time since November.
A section of the BP Eastern Trough Area Project oil platform is seen in the North Sea in Scotland. Photo: Reuters