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Indonesia News Portal for Traders | Financial & Business Updates

26 February 2025 10:58  |

Oil edges up after US stockpiles report helps offset worries on rising supply

Oil prices climbed in early Asian trading hours on Wednesday, bouncing off two-month lows hit in the prior session, after an industry group reported U.S. crude stockpiles fell last week.

Brent crude oil futures rose 27 cents, or 0.4%, to $73.29 a barrel by 0134 GMT. U.S. West Texas Intermediate crude oil futures were up 25 cents, or 0.4%, to $69.18 per barrel.

U.S. crude stocks fell 640,000 barrels in the week ended February 21, market sources said on Tuesday citing American Petroleum Institute data. Official U.S. stockpiles data is due later on Wednesday.

Source: Reuters

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