Oil rises for fourth straight session

09/02/2023 Argaam
Oil drilling rigs

Oil drilling rigs

Oil extended gains today, Feb. 9, after rising about 7% over the past three sessions as US Federal Reserve officials evaluated the interest rate statements.

 

International benchmark Brent crude was trading up 0.19% at $85.25 a barrel, at 9:01 am Makkah time.

 

West Texas Intermediate (WTI) crude rose 0.14% to reach $78.58 a barrel.

 

“Participants continue to wait for clearer signals on how Chinese demand and Russian supply evolve,” Warren Patterson, Chief Commodity Strategist at ING Group, told Bloomberg.

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