Oil prices rebounded from $1 down to $1 up in trading on Thursday, after a Russian ban on fuel exports snapped focus away from Western economic headwinds and back to throttled crude supply to the end of 2023.
Brent futures for November delivery were up $1.02, or 1.09%, to $94.55 a barrel by 1348 GMT. U.S. West Texas Intermediate crude (WTI) climbed $1.27, or 1.42%, to $90.93 after falling to their lowest price since Sept. 14 earlier in the session. Both benchmarks had fallen more than $1 earlier on Thursday.
