Oil Prices Broadly Steady Amid Rising US Stockpiles

[Epoch-Times-Bot]

Oil Prices Broadly Steady Amid Rising US Stockpiles

LONDON—Oil prices were broadly steady on Wednesday as market participants were pulled in different directions by an unexpected build in U.S. crude and fuel inventories, global economic uncertainty, and China reopening its economy.
Moving in and out of negative territory, Brent crude futures were up 53 cents, or 0.7 percent, at $80.63 a barrel by 0921 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 41 cents, or 0.6 percent, to $75.53 a barrel.
Both contracts rose on Monday and Tuesday, rebounding from a sharp selloff in the first week of 2023.
Analysts polled by Reuters had expected U.S. crude oil stockpiles to fall. Traders will be looking out for inventory data from the U.S. Energy Information Administration typically due 1530 GMT....

Source: Oil Prices Broadly Steady Amid Rising US Stockpiles

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