A view of an oil well at Arab Desert in Jebel Dukhan, Bahrain on March 4, 2024.
Crude oil futures were jolted out of their recent slump Wednesday after industry data showed falling U.S. crude inventories and Ukraine attacked Russian oil refineries again.
The West Texas Intermediate contract for April gained $1.16, or 1.5%, to $78.72 a barrel.
The Brent contract for May added $1.13, or 1.38%, to $83.05 a barrel.
U.S. crude and the global benchmark have been on a recent losing streak as traders worried about demand in China and robust supply in the Americas, particularly the U.S.
Persons:
Brent
Organizations:
West Texas Intermediate
Locations:
Jebel Dukhan, Bahrain, Ukraine, China, Americas, U.S