Market News
Oil edges up, but oversupply worries cap gains - REUTERS
By Katya Golubkova and Siyi Liu
Summary
- Brent, WTI up marginally after 2% drops in prior session
- US push to end Russia's war in Ukraine adds to supply worries
- US crude stocks fall, but gasoline and distillate increase
TOKYO/SINGAPORE, Nov 20 (Reuters) - Oil prices edged up on Thursday after falling in the previous session as a bigger-than-expected draw in U.S. crude stockpiles offset speculation that a U.S. push to end the Russia-Ukraine war may add barrels to an amply supplied market.
Brent crude futures were up 20 cents, or 0.31%, to $63.72 a barrel at 0714 GMT, while U.S. West Texas Intermediate crude futures were 22 cents, or 0.37%, higher at $59.66.
