The Latest News Regarding Crude Oil Futures. Posted By https://www.bullionsignals.com/. C/w:-6396479818

Oil rebounds from six-month-low but demand concerns linger.

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low in the previous session but investors remained concerned about sluggish demand and economic slowdowns in the U.S. and China.

Brent crude futures rose 27 cents, or 0.4%, to $74.56 a barrel by 0613 GMT. U.S. West Texas Intermediate crude futures rose 24 cents, also 0.4%, to $69.62 a barrel.

“Oil markets may have been oversold,” which could mean the recovery is a “short-term rebound”, Tina Teng, a markets analyst with CMC Markets (LON:CMCX), said in a note.

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