WTI crude futures rose more than 2% to $74 as investors placed speculative orders into the market. after the previous price collapse
At 6:59 p.m. Thai time, West Texas Crude Oil Contract (WTI) for February delivery Which traded on the NYMEX plus $ 1.63, or 2.24%, to $ 74.47 / barrel.
Oil prices tumbled more than 9 percent in Tuesday and Wednesday trading, the biggest two-day drop since 1991 amid recession concerns.
Oil prices were also supported by the closure of US pipelines by Colonial Corporation. Pipeline for maintenance It is expected to return to open the pipeline on January 7.
Investors are keeping an eye on the U.S. Energy Information Administration’s (EIA) release today, with analysts expecting U.S. crude stockpiles to rise by 2.2 million barrels last week.