Oil prices went higher on Wednesday
Publish Date : 2019/07/24 - 09:31

Oil prices went higher on Wednesday on rising tensions over Iran, a sharp fall in U.S. crude stocks and positive signs on Sino-U.S. talks, although worries about weak demand kept a cap on gains.

Brent crude futures were up 21 cents, or 0.3%, at $64.04 a barrel.

U.S. West Texas Intermediate crude was up 28 cents, or 0.5%, at $57.05 a barrel.

U.S. crude stocks fell more than expected in the week to July 19, declining by 11 million barrels to 449 million, the trade group American Petroleum Institute said on Tuesday.

The potential for renewed Sino-U.S. trade talks also helped bolster prices, analysts said.

White House economic adviser Larry Kudlow on Tuesday called it a good sign that top U.S. officials would be travelling to China to discuss reviving stalled trade talks.

Source: Reuters

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