Oil rebounds from losses, still near six-year low

Source: WBP Online
© ScanPix/AFP
Crude futures rebounded from steep losses on Tuesday ahead of the US weekly inventory report. WTI rose 1.49% to $38.81 per barrel, while contracts for Brent advanced 1.24% to $43.22 per barrel by 07:10 AM GMT. The recent sell-off in oil was mostly sparked by the global supply glut and worries over China, which is one of the leading oil consumers. Ahead in the day, the US stockpiles are expected to post a weekly rise of 2 million barrels.  
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