Thu, 2023-01-12 11:54
RIYADH: Oil prices edged up on Thursday, building on gains in the previous session as China’s demand outlook improved, though gains were limited ahead of upcoming inflation data from the US.
Brent crude had risen 8 cents, or 0.10 percent, to $82.75 per barrel by 09.40 a.m. Saudi time, while US West Texas Intermediate crude also rose 6 cents, or 0.08 percent, to $77.47 per barrel.
Both benchmarks rose 3 percent in Wednesday’s session, boosted by hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output.
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