Oil shakes off early loss to top US$100 as Vitol warns on prices

Dictating trends: Saudi Aramco engineers and journalists look at the Hawiyah Natural Gas Liquids Recovery Plant in Saudi Arabia. The oil giant will release the official selling prices for May-loading cargoes soon. — AP

SINGAPORE: Oil rebounded as traders weighed a warning from Vitol Group that prices had sunk too far against a virus outbreak in China and prospects for more strategic crude releases.

West Texas Intermediate erased losses early in the session to climb back above US$100 (RM422) a barrel.