Oil prices rose slightly on Thursday, finding some support after heavy losses in the previous two sessions that were driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts, AzVision.az reports citing Reuters.
Brent crude was trading at $77.94 a barrel, up 25 cents, or 0.3% as of 0252 GMT. U.S. West Texas Intermediate crude added 12 cents or 0.2% to trade at $74.42.
Oil prices dropped almost 4% on Wednesday, extending sharp losses in the previous session with recession fears overshadowing a bigger-than-expected fall in U.S. crude inventories.
As of Wednesday's close, Brent is down 4.9% for the week while WTI has lost 4.6%.
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