Oil edges up after steep losses ahead of US debt ceiling vote

Oil prices bounced back slightly as traders waited for the outcome of a vote on a bipartisan deal aimed at agreeing to raise the US's debt ceiling. Brent crude futures rose 11 cents to $73.83 a barrel and US West Texas Intermediate crude gained 8 cents to $69.54 a barrel. Both had dropped by more than 4% on Tuesday. The returns of Brent crude were down by 7% and US benchmark crude by 9%. Market participants were also looking out for data on US crude stockpiles later in the day.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.