Oil prices find some support after heavy losses on US recession fears

- Business - April 27, 2023
Hafsa Mustafa from GCU Lahore.

Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions that were driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. Brent crude was trading at $77.94 a barrel, up 25 cents, or 0.3% as of 0252 GMT. U.S. West Texas Intermediate crude added 12 cents or 0.2% to trade at $74.42.