Oil prices edged higher on Thursday as prospects of further supply cuts offset weak economic data from China.
Brent, the benchmark for two thirds of the world’s oil, was trading 0.15 per cent higher at $85.99 a barrel at 12.36pm UAE time. West Texas Intermediate, the gauge that tracks US crude, was up 0.28 per cent at $81.86 a barrel.
On Wednesday, Brent settled 0.43 per cent higher at $85.86 a barrel. WTI closed up 0.58 per cent at $81.63 a barrel.
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