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Oil is recovering some of its losses and surplus keeps markets under pressure

BAGHDAD, Oil prices recovered some of their losses in the previous session, but the growth of US crude inventories and persistent worries about the global economy kept markets under pressure.

Global Brent crude rose 33 cents to $ 53.11 a barrel, with crude falling 4.24 percent, or $ 2.31, to $ 52.16 a barrel.

WTI futures averaged $ 45.33 a barrel, up 1.59 percent, or 72 cents.

The US Energy Information Administration announced yesterday that crude oil inventories in the United States saw a slight decline last week while gasoline stocks increased more than expected.

Source: National Iraqi News Agency

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