Oil prices rose slightly on Wednesday after two consecutive sessions of losses.
Prices received some support amid the threat of tighter supplies from OPEC and its partners. The upside, however, remained capped by growing risks of a global recession and tightening Covid-19 curbs in China.
Benchmark Brent crude futures rose 0.4 percent to $94.66 a barrel, while WTI crude futures were up 0.2 percent at $89.53.
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Market Analysis
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.