Crude oil futures rebounded on Wednesday, but held near recent lows
amid concerns over sluggish global demand and ample supplies.
On the New York Mercantile Exchange, crude oil for delivery in March rose 53 cents, or 1.13%, to trade at $47.00 a barrel during European morning hours.
A day earlier, New York-traded oil futures tumbled $2.66, or 5.41%, to settle at $46.47 a barrel. WTI prices touched $44.20 on January 13, a level not seen since March 2009.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for March delivery tacked on 60 cents, or 1.25%, to trade at $48.59 a barrel.
On Tuesday, London-traded Brent prices fell 85 cents, or 1.74%, to close at $47.99 a barrel. Brent hit $45.19 on January 13, the weakest level since April 2009.
The International Monetary Fund cut its global growth forecast for 2015 on Tuesday to 3.5% from a previous estimate of 3.8%, citing slowing economies in China, Russia, the euro zone and Japan.
Read more Click Here / www.trade4x.net
On the New York Mercantile Exchange, crude oil for delivery in March rose 53 cents, or 1.13%, to trade at $47.00 a barrel during European morning hours.
A day earlier, New York-traded oil futures tumbled $2.66, or 5.41%, to settle at $46.47 a barrel. WTI prices touched $44.20 on January 13, a level not seen since March 2009.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for March delivery tacked on 60 cents, or 1.25%, to trade at $48.59 a barrel.
On Tuesday, London-traded Brent prices fell 85 cents, or 1.74%, to close at $47.99 a barrel. Brent hit $45.19 on January 13, the weakest level since April 2009.
The International Monetary Fund cut its global growth forecast for 2015 on Tuesday to 3.5% from a previous estimate of 3.8%, citing slowing economies in China, Russia, the euro zone and Japan.
Read more Click Here / www.trade4x.net
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