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Oil prices rose by over 1% amid supply risks and US-China trade talks

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Oil prices rose by more than 1% for the second consecutive day due to risks of supply disruptions and hopes for a trade deal between the US and China. The US also plans to replenish its strategic oil reserves.

Oil prices rose for a second straight day on Wednesday, by more than 1%, amid supply disruption risks related to sanctions and hopes for a trade deal between the US and China, UNN reports, citing Reuters.

Details

Investors also reacted to the news that the US is looking to replenish its strategic oil reserves.

Brent crude futures rose 94 cents, or 1.5%, to $62.26 a barrel as of 04:00 GMT (07:00 Kyiv time).

While US West Texas Intermediate crude futures rose 92 cents, or 1.6%, to $58.16.

A key factor for stabilizing oil prices in 2026 will be the deficit of investments in production - Var Energi21.10.25, 16:12

Julia Shramko Economy
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