The Traderszone Network

Published in TZ Latest News 12 January, 2016 by The TZ Newswire Staff

Crude oil rises for first time in eight days after U.S. stocks fall

Crude futures rose on Wednesday for the first time in eight days, with U.S. oil pulling further away from the widely watched $30-per-barrel level breached the previous session, after U.S. crude stocks unexpectedly fell last week. Increased Iranian oil output should feed into oversupply this year with the expected lifting of Western sanctions on that country’s exports, the U.S. Energy Information Administration said.