Brent crude futures rose $1.04, or 1.2%, to $87.16 a barrel by 1506 GMT. US West Texas Intermediate crude futures were up $1.04, or 1.3%, at $81.19."Also, market participants are closely tracking the upcoming OPEC+ JMMC meeting and the EU embargo on refined products."
" markets are set to tighten significantly should the reopening in China – the world's largest driver of commodity demand – be orderly, and ... we anticipate conditions to be ripe for commodity investor inflows," MUFG analyst Ehsan Khoman said. Meanwhile, US crude inventories edged up by 533,000 barrels to 448.5 million barrels in the week ending Jan. 20, the Energy Information Administration said.
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