Brent futures hover near $90

04 Apr, 2024

NEW YORK: Oil prices extended gains on Wednesday as investors worried about supply disruptions from a worsening geopolitical landscape, although a surprise jump in US crude oil inventories eased some of those concerns. Brent crude futures rose 84 cents, or 0.9%, to $89.76 a barrel by 11:38 a.m. ET (1538 GMT).

US West Texas Intermediate futures rose 76 cents, or 0.9%, to $85.91 a barrel.

Both contracts were up more than a dollar during the session, before the US Energy Information Administration reported a 3.2 million barrel increase in crude stocks.

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