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Oil Prices Rise Amid Brexit Hope, But Worries Over China Limit Gain


Wednesday, 16 October 2019 13:36 WIB

Minyak WTIMinyak MentahMinyak Brent


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Oil prices recovered on Wednesday in Asia amid renewed hopes of a potential Brexit deal between the U.K. and the European Union.

U.S. Crude Oil WTI Futures gained 0.3% to $52.97 by 1:13 AM ET (05:13 GMT). International Brent Oil Futures also rose 0.3% to $58.91.

Also supporting oil prices today were reports that OPEC Secretary-General Mohammad Barkindo said the Organization of the Petroleum Exporting Countries "will do whatever (is) in its power" to sustain oil market stability beyond 2020.

Weekly crude inventories data from the American Petroleum Institute and the U.S. Energy Information Administration are due on Thursday and Friday.

Source : Investing.com


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