Oil gets a Trump bump, but demand pressures continue
Dan Graeber, Correspondent
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Demand continues to pose a risk to oil prices.Eli Hartman, MBI / Associated Press
President Trump s reluctant signing of the $900 billion stimulus package is giving a lift to oil prices, but analysts expect weak demand to weigh on markets this week.
The stimulus, enacted as part of a $2.3 trillion spending bill to keep the government running, includes one-time payments of $600 to individual taxpayers and supplements state unemployment insurance checks with an extra $300 per week. Saving taxpayers and averting a government shutdown helped push the price for Brent crude oil, the international benchmark, toward $52 per barrel in early Monday trading, extending a rally that began with vaccine news in early November.