Oil prices stabilize after days of losses

Oil prices witnessed a slight rise on Wednesday, recovering some gains after a series of continuous losses over the days, thanks to the decline in concerns about the conflict in the Middle East and lower expectations about Chinese demand. Brent crude futures rose by 47 cents, or 0.6%, to reach $77.67 per barrel, while US West Texas Intermediate crude prices increased by 48 cents, or 0.7%, to reach $73.65 per barrel. Brent prices fell by 6.2% at the end of trading yesterday, Tuesday, after exceeding $82 last Monday, to record its lowest level in two weeks at $77.20 per barrel. West Texas Intermediate crude also fell by 7.5% during the same period. Source: National Iraqi News Agency