The price of crude oil moved up for a second session to hit a two-week high Wednesday morning on optimism that a growing U.S. economy will help improve crude demand. Traders also took positive clues from the recent upsurges in the stock markets.
Light Sweet Crude Oil (WTI) futures for March 2010 were up $0.59 to $77.60, continuing its nearly $3 gain in the previous session.
In news which could put pressure on oil, the greenback was edging up against the euro, the British pound and the yen.
Some of today's trading action may be guided by weekly crude oil inventories data from the American Petroleum Institute, scheduled for release later today.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.