Oil Prices Jump Nearly 2%

Oil prices rose for the second consecutive day on Wednesday, gaining about 2%, supported by supply risks linked to sanctions and hopes for a US-China trade deal.اضافة اعلان

The market was also bolstered by the US buying crude to replenish its strategic reserves.

By 09:25 Moscow time, US West Texas Intermediate (WTI) futures traded at $58.36 per barrel, up 1.96% from the previous settlement, while Brent crude futures were at $62.44 per barrel, up 1.83%.

The gains come as oil recovers from a five-month low hit on Monday, caused by increased production from oil exporters and trade tensions affecting demand.

Source: Reuters & Bloomberg