LONDON—Oil prices rose by more than $1 a barrel on Wednesday as markets focused on supply tightness heading into winter and a “soft landing” for the U.S. economy.
Brent crude futures were up 85 cents, or 0.9 percent, to $94.81 a barrel by 0827 GMT, after rising by as much as $1.03. U.S. West Texas Intermediate crude futures climbed $1.06, or 1.17 percent, to $91.45 after gaining as much as $1.24.
