Oil Prices Tick Up in Volatile Trade as US Stocks Fall in Tight Market

Oil Prices Tick Up in Volatile Trade as US Stocks Fall in Tight Market
A pump jack operates in the Permian Basin oil production area near Wink, Texas on Aug. 22, 2018. Nick Oxford/Reuters
Reuters
Updated:

LONDON—Oil prices rose slightly on Wednesday amid plenty of caution as bullish signals like falling U.S. crude stocks and a generally undersupplied market were countered by bearish factors such as uncertain Chinese demand growth and falling gas prices.

Brent crude futures for December settlement rose 60 cents, or 0.7 percent, to $90.63 a barrel by 0913 GMT. Earlier in the session, Brent hit a low of $89.32.