Balanced News: : U.S. oil futures tally a 5th straight session gain

Oil futures climbed on Wednesday, with U.S. prices up a fifth consecutive session. “Hopes of a strong rebound in Chinese oil demand, fears surrounding the coming [Group of Seven] price cap on Russian refined products, and a weakening dollar is providing support to oil prices this week,” said Troy Vincent, senior market analyst at DTN. The U.S. benchmark WTI crude for February delivery CLG23, +3.35% rose $2.29, or nearly 3.1%, to settle at $77.41 a barrel on the New York Mercantile Exchange.