Crude oil futures settled higher on Wednesday as prices rose on reports about a slow progress in restoration of crude output in the Gulf of Mexico region.
Worries about the outlook for energy demand due to the surge in coronavirus cases, and a strong dollar limited oil's gains.
West Texas Intermediate Crude oil futures for October ended up by $0.95 or about 1.4% at $69.30 a barrel.
Brent crude futures were up $0.91 or 1.28% at $72.60 a barrel a little while ago.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.