Oil prices rose today, recovering from losses suffered earlier in the session, as investors weighed a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing US and Iran nuclear talks. Brent Crude was trading over one percent up at 66 dollars and 83 cents per barrel. WTI Crude was trading over 1.2 per cent up at 63 dollars and six cents per barrel, when reports last came in.
Meanwhile, Energy Information Administration data showed US commercial crude oil inventories increased by 0.2 million barrels to 443.1 million barrels in the week ending on 18th April.