Oil prices rose in early trade on Thursday, building on gains in the previous session as China's demand outlook improves and concerns rise over the impact of sanctions on Russian supply.Brent crude rose 50 cents, or 0.6 per cent, to $83.17 per barrel by 0135 GMT, while U.S. West Texas Intermediate crude a
Oil prices rose in early trade on Thursday, building on gains in the previous session as China's demand outlook improves and concerns rise over the impact of sanctions on Russian supply.
Both benchmarks rose 3 per cent in Wednesday's session, settling at the highest levels since December 30. China's industrial output is expected to have grown by 3.6 per cent in 2022 from the previous year, the Ministry of Industry and Information Technology said, despite production and logistics disruptions from COVID-19 curbs.
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