Oil prices lift after three gloomy sessions
Brent crude futures rose 0.4% per barrel after dropping 5.6% on Tuesday, at one point hitting a 14-month low
Beijing/Singapore — Oil prices rebounded on Wednesday after falling for the past three sessions, with worries about oversupply and a slowing global economy keeping markets under pressure though sentiment may be shifting as falling equity markets seemed to stabilise. West Texas Intermediate futures (WTI) climbed four US cents, or 0.09%, to $46.28 per barrel by 4.43am GMT, after plunging 7.3% the day before in a session when it touched its lowest since August 2017. Global benchmark Brent crude futures rose 0.4%, or 23c, at $56.49 per barrel. It dropped 5.6% on Tuesday, at one point hitting a 14-month low. WTI prices are holding as "traders look for some solace in US equity markets as risk sentiment appears to be stabilising," said Stephen Innes, head of trading for Asia-Pacific at Oanda. "But we are far removed from any bullish flip in investor sentiment." The S&P 500 ended up slightly on Tuesday and the Dow Jones Industrial Average rose 0.35% as both indices ended losing streaks. Fur...
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