Brent crude futures settled at US$63.16 a barrel, up 42 cents, or 0.7%. U.S. West Texas Intermediate crude settled at $59.77 a barrel, gaining 44 cents, or 0.7%. U.S. crude stocks fell 3.5 million barrels last week (File pic shows oil storage in Cushing, Oklahoma. - Reuters)
NEW YORK: Oil futures inched higher on Wednesday on an improving global economic outlook, but gains were capped by rising gasoline inventories and fears that new coronavirus outbreaks will weaken a global recovery in fuel demand.
Brent crude futures settled at US$63.16 a barrel, up 42 cents, or 0.7%. U.S. West Texas Intermediate crude settled at $59.77 a barrel, gaining 44 cents, or 0.7%.
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