Updates on Global Oil Prices

25 Oct 2018



Oil prices rose modestly on Wednesday, rebounding after several days of weakness as a much bigger-than-expected drawdown in U.S. gasoline and diesel inventories augured a seasonal increase in refining demand.
 
Brent crude settled at $76.17 a barrel, down 27 cents, or 0.4 percent. The global benchmark is more affected by the outlook for world supply, and Saudi Arabia's saying it plans on boosting output may reduce buying interest in Brent.

Meanwhile, West Texas Intermediate (WTI) crude futures settled at $66.35 a barrel.

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