Oil held its biggest gain in more than a week as investors assessed the impact of U.S. sanctions against Venezuela, while waiting for the outcome of trade talks between Washington and Beijing.
West Texas Intermediate crude for March delivery rose 9 cents to $53.40 a barrel on the New York Mercantile Exchange at 11:14 a.m. in Singapore. The contract climbed $1.32 to close at $53.31 a barrel on Tuesday, the biggest advance since Jan. 18.
Brent for March settlement was 21 cents higher at $61.53 a barrel on the London-based ICE Futures Europe exchange. The contract increased $1.39 to $61.32 in the previous session. The global benchmark crude was at a $8.08 premium to WTI.
Source : Bloomberg