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Oil prices rose after posting their biggest one-day drop so far this year, as traders focused on the still positive demand outlook and risk appetite recovered
, Bloomberg reported on Jan.
25.
West Texas Intermediate crude WTI prices climbed nearly 1 percent in early Asian trading and fell more than 2 percent at Monday's close, when U.
S.
stocks fell and then recovered
.
Trading was volatile
as the Federal Reserve prepared for a rate hike and geopolitical tensions emerged.
Crude oil rebounded to levels seven years ago last week as the world's consumption recovered from the effects of the pandemic, depleting inventories
.
U.
S.
oilfield services giant Halliburton Co.
The industry environment is expected to remain supportive while Monday's profit surges and dividend increases are announced
.
After contracting 15% in 2021, U.
S.
crude inventories will see another monthly decline
in January.
The American Petroleum Institute will release its latest National Oil Inventory Week estimates on Tuesday, for key products
, including gasoline.
