Oil prices rose today to compensate for some of the losses incurred in the previous session, due to fears of raising interest rates in the United States in the future.. amid markets anticipating important Chinese economic data to get indications about the demand for oil.
Brent crude futures rose 21 cents, or 0.3%, to $73.41 a barrel. West Texas Intermediate crude reached $68.50 a barrel, up 23 cents, or 0.4%.
The benchmark fell 1.5% yesterday, “Wednesday”, after expectations from the US Federal Reserve for more interest rate increases this year, which raised fears that higher interest rates would lead to a slowdown in the economy and lower demand for oil.
