Oil rises, hovers below $50 per barrel on hopes for US stimulus

Both crude benchmarks gained for a fifth consecutive week

Oil price: Brent settled up 54 cents or 1.11% at $49.25 a barrel — Oil price: Brent settled up 54 cents or 1.11% at $49.25 a barrelPhoto: REUTERS/SCANPIX

Reuters

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Published 4 December 2020, 22:59Updated 4 December 2020, 22:59