- Continued volatility has seen oil prices gain 1% on Wednesday, as the market attempts to decipher the latest demand growth, US crude inventory data, inflation indications and the impact of China’s COVID lockdowns.
- As of 3:33 p.m. EST on Wednesday, Brent crude was trading up $0.53, at $93.73, for a 0.60% gain on the day.
- China demand continues to act as a counterbalance to any sustained upward movement, though the IEA has only marginally trimmed global oil demand growth to 2 million bpd, from 2.1 million bpd forecasted in August.
Oil Gains On Crossed Economic Wires
