Categories: Business

Oil Updates — Crude up; China’s crude oil imports hit 10-month high


Wed, 2022-12-07 10:00

RIYADH: Oil futures edged slightly higher on Wednesday on hopes for improved Chinese demand while uncertainty about how a Western cap on Russian oil prices would play out kept markets on edge after a sharp fall the previous session. 

Brent crude futures gained 13 cents, or 0.16 percent, at 0416 GMT to $79.48 a barrel after they fell below $80 for the second time in 2022 during the previous trading session. 

US crude futures clawed back earlier losses and were steady from the previous close at $74.25 a barrel. 

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