U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading at $27.35 per barrel at 0014 GMT, up $1.14 or 4.35 percent from their previous settlement. The group's output level last month implies a global oil surplus of 1.84 million barrels a day in the first quarter of 2016, based on the report's data.
USA benchmark West Texas Intermediate (WTI) for March delivery was down 40 cents, or 1.46 percent, to $27.05 at around 0600 GMT after sinking to as low as $26.85 earlier in the session. Lower prices in the manufacturing or agriculture sectors, which resulted from lower oil prices, have contributed to low inflation in major economies, they added.
Chart analysts said that crude prices may be just days away from falling to $25 a barrel or below as weakening technicals put more pressure on the market. With the market already awash in oil, it is rather hard to see how oil prices can rise significantly in the short term, the IEA Oil Market Report ( OMR ) revealed.
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He said the bill could be amended on the Senate floor to create the one form with the check boxes. "At the end of the day we recognize that all couples will still be able to get marriage licenses, and that is what is important to us".
Signs of a resilient USA labor sector and ongoing rumors about oil production deals pulled crude oil back above $30 per barrel in Wednesday trading. A weaker dollar can make dollar-denominated commodities more appealing to holders of other currencies.