Oil prices up on China economic support pledge, tighter Russian supply
Global oil prices rose on Wednesday, boosted by China’s pledge to support economic growth, tighter supply from Russia and on lower weekly U.S. crude oil inventories.
Brent futures rose 9 cents, or 0.1%, to $79.72 a barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude was steady at $75.75 per barrel.
China’s top economic planner pledged on Tuesday that it would roll out policies to “restore and expand” consumption in the world’s second-largest economy as consumers’ purchasing power remained weak.
