Oil prices rose in early Asian trade on Wednesday on anticipated US crude inventory declines and OPEC+’s latest output cut targets.
Brent crude futures gained 38 cents to $85.32 a barrel at 0021 GMT. West Texas Intermediate US crude was up 33 cents to $81.04 a barrel.
Helping boost oil prices was an industry report showing that US crude stocks fell by about 4.3 million barrels in the week ended March 31, according to market sources citing American Petroleum Institute figures on Tuesday.
In Asia, Japan’s service sector grew in March at the fastest rate in more than nine years.
