SINGAPORE: Oil prices pared their gains on Wednesday but were still solidly bid, after U.S. inventories and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts.
Brent crude futures last rose 74 cents, or 1%, to $77.58 a barrel by 0645 GMT, while the U.S. West Texas Intermediate crude (WTI) gained 84 cents, or 1.2%, to $73.75 a barrel.
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