Commodity Capsule: Brent crude advances; Gold steady; copper under pressure | Watch video
Commodity Capsule: Prices then rebounded amid some hopes that oil markets would tighten due to disruptions in Middle Eastern supply, as the Israel-Hamas war raged on and as Libya suspended output at its biggest oilfield.
Commodity Capsule: Oil prices advanced on Wednesday, extending a recent rebound as signs of supply disruptions in the Middle East persisted.
Industry data pointed to another week of sharp builds in the US product inventories.
Crude prices saw a whipsaw start to the week, falling sharply on Monday as Saudi Arabia slashed prices on its oil sales in the face of weakening demand.
Prices then rebounded amid some hopes that oil markets would tighten due to disruptions in Middle Eastern supply, as the Israel-Hamas war raged on and as Libya suspended output at its biggest oilfield.
Both crude oil benchmarks were now back in sight of levels seen before a sharp drop at the beginning of the week.
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