Oil prices edged up on Thursday after Saudi Arabia's state oil company raised its March crude prices sharply, but the gains barely dented the previous day's slide in benchmark Brent crude.
Brent crude futures rose 28 cents, or 0.4%, to $74.89 a barrel by 0952 GMT. U.S. West Texas Intermediate crude was up 35 cents, or 0.5%, at $71.38.
Oil prices had plunged by more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signalled weaker demand while investors also weighed up the implications of a new round of U.S.-China trade tariffs, including duties on energy products.
Prices have tumbled by about 10% since January 15, five days before Donald Trump took over as U.S. President.
A sharp increase in prices for Asian buyers by Saudi Aramco, the world's leading oil exporter, managed to stem Wednesday's sell-off.
A sharp increase in prices for Asian buyers by Saudi Aramco, the world's leading oil exporter, managed to stem Wednesday's sell-off.
Sumber : Reuters
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