(MENAFN- ProactiveInvestors)
U.S. oil futures bounced off six-and-half year lows overnight but the moves represent a modest tick higher for the commodity which has been pressured by a surprise weekly increase in crude supplies.
Also impacting the price of oil is concerns surrounding the Chinese economy.
Crude futures for delivery in September gained 0.8% to settle at US$41.14 a barrel on NYMEX.
Across the pond October Brent crude shed 0.3% to US$47.03 a barrel on the ICE Futures exchange.
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