At close, crude oil Brent (Global Reference) due in January rose 1.29%, at US$63.37 per barrel, on the Intercontinental Exchange (ICE). the West Texas Intermediate crude oil (US reference) scheduled for delivery in the same month rose by 1.34% to reach $58.84 per barrel on the New York Mercantile Exchange (NYMEX).
Other risky assets, such as the New York Stock Exchanges, benefit from expectations about the Federal Reserve’s monetary policy. “It’s kind of a risk-on move because stocks are rising,” says Robert Jawger of Mizuho Bank.