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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Prices Edge Up from 6-Month Lows after Drop in US Stockpiles

Oil drills are pictured in the Kern River oil field in Bakersfield, California November 9, 2014. REUTERS/Jonathan Alcorn/File Photo

Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global recession.

Brent crude futures rose 56 cents, or 0.6%, to $92.90 a barrel by 0415 GMT. West Texas Intermediate (WTI) crude futures climbed 62 cents, or 0.7%, to $87.15 a barrel.

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