Oil prices edged higher on Wednesday, as data showing a larger-than-expected drop in U.S. crude over the past week outweighed concerns about lower fuel demand from China amid tightening COVID-19 restrictions.
Brent crude futures were up 27 cents, or 0.3%, to $88.63 a barrel by 0719 GMT, while US West Texas Intermediate (WTI) crude futures were up 25 cents, or 0.3%, to $81.20 a barrel barrels gained.
Both benchmark contracts were up about 1% on Tuesday as the United Arab Emirates, Kuwait, Iraq and Algeria stepped up comments…
