Down one day and up the next, oil’s yo-yo pattern continued Wednesday, with the market moving to any headline that remotely mattered in the absence of substantive developments on U.S.-China talks and OPEC production cuts.
U.S. West Texas Intermediate crude settled up 57 cents, or 1.1%, at $53.45 per barrel, recouping about two-thirds of the previous day’s loss.
U.K. Brent oil closed up 68 cents, or 1.2%, at $59.42.
Source : Investing.com