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Brent oil gains $1 to claw back some losses as Libyan exports to resume

Reuters  |  TOKYO 

By Aaron SheldrickTOKYO (Reuters) - Brent crude rose more than $1 on Thursday, recouping some ground after its biggest one-day drop in two years during the previous session after Libya said it would resume oil exports and U.S.-China trade tensions raised demand concerns.Brent crude rose $1.23, or 1.7 percent, to $74.63 a barrel by 0544 GMT after slumping 6.9 percent on Wednesday. U.S. West Texas Intermediate (WTI) added 46 cents, or 0.7 percent, to $70.84 a barrel, after falling 5 percent the previous session."Markets in Asia are a lot more settled today," said Greg McKenna, chief market ...

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First Published: Thu, July 12 2018. 11:41 IST