Oil inches higher on supply concerns, China demand recovery

By: Admin
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SINGAPORE, Sept 18 (Reuters) - Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer.

Brent crude futures rose 5 cents, or 0.1%, to $93.98 a barrel by 0027 GMT while U.S. West Texas Intermediate crude was at $90.92 a barrel, up 15 cents, or 0.2%.

https://www.reuters.com/markets/commodities/oil-inches-higher-supply-concerns-china-demand-recovery-2023-09-18/