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WTI edges higher near $88.50 as Middle East exports recover

Analysts cited Middle East crude exports rebounding to a 10-day average of 17.5 million barrels per day, about 98% of pre-war levels, helping ease supply concerns.

Reported · Written up by our desk · Energy

WTI edged higher in Asian hours on Wednesday after falling nearly 4.5% the prior day, trading around $88.50 per barrel, according to FXStreet.

The report said crude prices eased as energy flows from the Middle East showed signs of improvement, with the 10-day average of regional crude exports recovering to 17.5 million barrels per day, or 98% of pre-war levels.

FXStreet also pointed to Saudi Arabia resuming crude exports through its East-West pipeline at roughly half capacity, alongside continued shipping through the Strait of Hormuz, while a further US release of emergency reserves helped offset supply concerns.

It added that US crude inventories rose by 1 million barrels last week and noted the benchmark remains on track for a third consecutive monthly gain.

Latest closeWTI crude $93.42 ▲1.1%

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