Oil prices rose on Wednesday after data suggested a larger than expected draw in U.S. crude stockpiles, but gains were capped by growing concerns over demand in China and a snow storm that is expected to hit U.S. travel.
Brent crude futures were up 73 cents, or 0.9%, at $80.72 per barrel by 0952 GMT. U.S. West Texas Intermediate crude futures gained 63 cents, or 0.8%, to $76.86.
Prices were also boosted by comments from Saudi Arabia's energy minister, who said on Tuesday that the heavily criticised move byThe comments suggest that OPEC+ may continue to keep supply tight, said CMC Markets analyst Tina Teng.in China as the country begins dismantling its zero-COVID policy kept oil prices from moving higher.
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