Oil prices rose in early trading on Thursday by about one percent, stopping the 3-day bleeding of losses, as risk appetite returned to financial markets after the US Federal Reserve kept interest rates unchanged.
Brent crude futures rose 84 cents, or 0.9 percent, to $85.47 a barrel and U.S. West Texas Intermediate crude futures rose 87 cents, or one percent, to $81.31 a barrel.
Both benchmarks settled at multi-week lows in the previous session. The rise in oil comes alongside gains in financial markets after the Federal Reserve left the interest rate unchanged at 5.25-5.50 percent at its meeting on Wednesday.
Source (Sky News Arabia, Edited)
