London — Oil prices recovered some ground on Wednesday, boosted by a wider market pick-up on positive news from China’s services sector, after three days of losses on fears about a weakening global economy.

Brent crude was up 15c, or 0.26%, at $58.41 a barrel by 8.50am GMT, while US West Texas Intermediate(WTI)  futures gained 24c, or 0.44%, at $54.18 a barrel...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now