WTI and Brent trade higher by 15:20 GMT

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Source: WBP Online

West Texas Intermediate crude oil futures traded 0.86% higher at $49.04, whereas Brent futures jumped 1.30%, trading at $49.24 by 15:20 GMT on the New York Stock Exchange. On Wednesday, it was the first time since November 2015 that oil prices touched the $50 level.


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Wed, 25 May 2016 16:44:15 GMT

European stocks post solid gains on Wednesday

Europe's major stock indices closed Wednesday's trading session strongly in the green. Germany's DAX 30 Index added 1.50%, finishing at 10,208.31, Britain's FTSE 100 Index gained 0.73%, closing at 6,264.88 points. Meanwhile, France's CAC 40 Index rose 1.13% to 4,481.49, whereas the pan-European Stoxx 50 Index grew 1.72%, finishing at 3,061.91 points.

Wed, 25 May 2016 16:03:15 GMT

US crude oil inventories drop more-than-expected

In its weekly report released on Wednesday, the EIA reported that US crude oil inventories dropped by 4.2 million barrels during the week ended May 20, following the 1.3 million-barrel increase seen in the previous seven days and surpassing the 1.7 million-barrel fall expected by analysts.

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