Oil prices rose slightly on Wednesday and have recovered somewhat from the losses of the past two days.
Around midday, a barrel (159 liters) of North Sea Brent for delivery in May cost $82.54. That was 50 cents more than the day before. The price for a barrel of American West Texas Intermediate (WTI) for April delivery rose 69 cents to $78.84.
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There was a slight countermovement on the oil market. In the first two trading days of the week, prices had fallen. During this time, North Sea Brent crude oil fell in price by around two dollars per barrel.
Market observers pointed to price increases by Saudi Arabia. Accordingly, the leading OPEC country has increased sales prices for customers in Asia.
As the day progresses, the development of US oil reserves becomes more of a focus for investors. According to data on Tuesday, the American Petroleum Institute (API) industry association recorded an increase in oil reserves by 400,000 barrels last week. In the afternoon, official data from the US government will be on the agenda, which will receive a lot of attention on the oil market and can provide new impetus.
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NEW YORK/LONDON (dpa-AFX)