Economic news

Oil stabilized, recovers after drops

Prices of oil grew today, firming after 2-day falls caused by an unexpected uptick in U.S. oil inventories and reignited worries over U.S.-China trade dispute.

Photo: Reuters

Brent futures increased to $72.55 per barrel, moving up 16 cents or 0.2%, changing course from yesterday’s plunge of 2.5%.

U.S. WTI futures slightly added to $67.72 a barrel, 6 cents or 0.1% hike.

Thursday registered a decrease of 1.6%. Crude is also affected by trade disagreements between countries, while markets are troubled by easing expansion across the globe.

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