NEW YORK Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined product inventories and record crude production.
* Saudi energy minister not concerned about economy slowing
(Updates with settlement prices, market activity, adds
NEW YORK Oil prices jumped about 5 percent on Wednesday to their highest levels in nearly a month as U.S.-China trade talks raised hopes of easing tensions between the world's two largest economies, while OPEC-led crude output cuts also provided support.
NEW YORK Oil prices edged higher on Monday, rebounding further from 1-1/2-year lows reached in December, on support from OPEC production cuts and steadying equities markets.
NEW YORK Oil rose nearly 2 percent on Friday after proposed trade talks between the United States and China eased some fears about a global economic slowdown, but gains were capped after the United States reported a sharp build in refined product inventories.
NEW YORK Oil prices rose more than 1 percent on Thursday in volatile trade, drawing support from signs that Saudi Arabia is cutting crude output but pressured by concerns that slowing global economic growth could dent demand. | Video
NEW YORK Oil prices rose about 2 percent in choppy trading on Wednesday, supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil.