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Oil prices rebound after prior session's sell-off

NEW YORK
2022-04-27 05:59

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NEW YORK, April 26 (Xinhua) -- Oil prices rose on Tuesday, reclaiming some of the losses they had suffered in the prior session.

The West Texas Intermediate for June delivery added 3.16 U.S. dollars, or 3.2 percent, to settle at 101.70 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery increased 2.67 dollars, or 2.6 percent, to close at 104.99 dollars a barrel on the London ICE Futures Exchange.

On Monday, the U.S. crude standard and Brent dropped 3.5 percent and 4.1 percent, respectively, as demand worries outweighed concerns over supply outages.

Traders are awaiting data on U.S. crude stockpiles as the U.S. Energy Information Administration is set to release its weekly petroleum status report on Wednesday.

Analysts surveyed by The Wall Street Journal forecast the U.S. crude inventories to show a rise of 600,000 barrels for the week ending April 22.
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