Oil prices turned higher, reversing declines near their lowest levels this year, as rumors that the OPEC+ group would cut production outweighed fears of street protests over tough COVID-19 restrictions in China, the world’s largest crude importer.
US West Texas Intermediate crude rose 48 cents, or 0.1 percent, to $76.76. It had earlier fallen to $73.60, its lowest level since December 22, 2021.
Brent crude rose 14 cents, or 0.2 percent, to trade at $83.77, following earlier falling more than three percent to $80.61 earlier in the session, its lowest since January 4.
