Oil prices rose in today’s Wednesday trading after two days of sharp declines, as investors awaited OPEC+’s plans regarding a larger increase in production next month, alongside monitoring the fallout from the U.S. government shutdown and its potential impact on economic activity and fuel demand.
Brent crude futures increased 0.4 percent to $66.30 per barrel, while U.S. West Texas Intermediate crude rose 0.4 percent to $62.63 per barrel.
On Monday, both benchmarks recorded their largest daily loss since August 1, falling more than 3 percent at settlement, before continuing to drop on Tuesday by an additional 1.5 percent each.
