Oil prices erased earlier losses and moved higher on Thursday just after the U.S. Bureau of Labor Statistics released data for October showing that inflation in the United States last month was lower than expected.
Oil prices erased the small losses of the day after the cooler-than-expected inflation data and jumped by more than 1% as of 8:50 a.m. ET. The U.S. benchmark, WTI Crude, was up by 1.50% at $87.05, with the international benchmark Brent Crude, rallying 1.45% at $93.94.
Echo Energy plc (LON:ECHO) is a full cycle, exploration led, oil and gas focused AIM-listed E&P with an exciting asset base in Latin America.