Black commodity trading continued to rise higher penetrating its latest 9-month high after seeing US crude oil supply data better than market expectations.
In the Asian session, US WTI crude futures traded strong at $ 48.24 a barrel, while Brent crude rose at $ 51.50 a barrel.
US crude oil inventories fell sharply by 3.1 million last week, far above expectations for a 1.9 million barrel drop by the market, after recording an increase in the previous week, the Energy Information Administration (EIA) reported.
EIA data also showed factory oil operations fell by 253,000 barrels a day in the last week, while factory consumption data fell 0.8%.
In addition, oil prices were also supported by the decision of the Federal Reserve (Fed) policy meeting to keep interest rates unchanged and to continue the bond purchase program.
Meanwhile, top U.S. Congress leaders are close to reaching a deal on a $ 900 billion coronavirus stimulus package, including a $ 600- $ 700 check aid and extended unemployment benefits.
