Crude oil prices climbed higher on Wednesday, buoyed by data showing a notable drop in gasoline inventories in the U.S. last week, and on optimism about increased demand for oil from China.
Investors cheered prospects of increased demand from China as Beijing and Shanghai gradually open up following almost two months of COVID-related lockdowns.
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Market Analysis
April 10, 2026 16:21 ET Inflation data from the U.S. was the main data event this week as the conflict in the Middle East continue. The minutes of the latest Fed policy session and the survey data on the services sector also made headlines. In Europe, manufacturing orders data from Germany was in focus. Price data from China drew attention in Asia.