Singapore, December 28 (QNA) – Oil prices edged higher on Wednesday on hopes of a recovery in fuel demand as China continues to ease its COVID-19 restrictions.
Brent futures for February delivery rose 31 cents, or 0.4%, to $84.64 a barrel, and West Texas Intermediate (WTI) crude futures rose 22 cents, or 0.35, to $79.75 a barrel.
The hopes for a boost to demand for fuel in top crude oil importer China come as the world’s second-biggest economy moves towards reopening its borders next month after three years of stringent curbs on movement and businesses to counter the spread of COVID.
Amid the optimistic market mood, both benchmarks hit their highest level in three weeks on Tuesday. (QNA)
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