Oil prices rose slightly on Wednesday, as fears of tight supplies persisted around the world, highlighted by another drop in US distillate and gasoline stocks.
Sharjah 24 – Archyde.com:
Oil prices recovered slightly in the late session of Wednesday, following falling for most of the day, in part due to the strength of the dollar and as China struggles to contain new hotbeds of the Corona virus that negatively affect demand. But Russia’s move to cut off gas shipments to two European countries has raised concerns regarding tight energy supplies.
The global benchmark Brent crude contracts ended the trading session up 33 cents at $105.32 a barrel, while the US West Texas Intermediate crude contracts closed 32 cents higher at $102.02 a barrel.
