BEIJING: Global oil prices rebounded on Wednesday after falling to a two-month low in the previous trading session, with both Brent and US crude futures recording gains.
According to market data, Brent crude futures rose by 71 cents, or 0.78%, to $92.20 per barrel.
Meanwhile, US West Texas Intermediate (WTI) crude futures gained 49 cents, or 0.57%, to reach $86.53 per barrel.
The prices were recorded at 1:19 a.m. Greenwich Mean Time (GMT), equivalent to 6:19 a.m. Pakistan Standard Time (PST).
US Crude Oil Inventories Increase by 9 Million Barrels
US crude oil inventories recorded a substantial increase, according to market sources citing data from the American Petroleum Institute (API).
The data showed that US crude oil stocks rose by 9 million barrels during the week ended November 6.
Inventory figures in the United States are closely monitored in global energy markets, as changes in stock levels can influence market sentiment and provide insights into trends in oil supply and demand.
