(MENAFN- ProactiveInvestors)
West Texas Intermediate crude prices settled higher for the first time in five sessions as some traders bet that weekly U.S. data will show a decline in oil inventories. But prices for Brent crude finished with a loss.
Another drop in Chinese stock prices and expectations that Iran will soon contribute more oil to the global market kept a lid on any price gains for oil.
September crude added 1.2% to US$47.98 a barrel on the New York Mercantile Exchange. Prices tapped intraday lows under US$47.
Brent crude shed 0.3% to end at US$53.30 a barrel on London’s ICE Futures exchange.
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