Oil Updates — Crude edges up; IEA says China's COVID-19 reopening to push oil demand

RIYADH: Oil prices rose on Wednesday, extending the previous session’s gains, driven by optimism that the lifting of China’s strict COVID-19 curbs will lead to a recovery in fuel demand in the world’s top oil importer.

Brent crude futures firmed 76 cents, or 0.88 percent, to $86.68 a barrel by 10.00 a.m Saudi time, following a 1.7 percent rally in the previous session.

US West Texas Intermediate crude futures rose 87 cents, or 1.09 percent, to $81.05, having risen 0.4 percent on Tuesday.