LONDON: Oil prices rose on Thursday, recovering from a five-day losing streak, on signs of steady demand in the US, the world’s largest oil consumer, although concerns over the economic impact of Washington’s tariffs capped gains.
Brent crude futures was up 41 cents, or 0.6 percent, at $67.3 a barrel, as of 9:07 a.m. Saudi time.
US West Texas Intermediate crude climbed 0.6 percent to $64.76, gaining 41 cents.
Both benchmarks slid about 1 percent on Wednesday to their lowest levels in eight weeks following US President Donald Trump’s remarks on progress in talks with Moscow.
Trump could meet Russian President Vladimir Putin as soon as next week, a White House official said, though the US continued preparations to impose secondary sanctions, including potentially on China, to pressure Moscow to end the war in Ukraine.
