Oil prices edged away from multi-year lows on Tuesday as the northern hemisphere moves into the peak-demand winter season, but mild weather and ballooning supplies mean that prices are expected to remain generally low well into 2016.
The global crude benchmark Brent <LCOc1> was at $36.46 per barrel at 0213 GMT. That was over $2 above the 11-year low hit on Monday, although traders said the price jump was more related to a roll-over in contracts and the start of the peak demand winter season than because of changing fundamentals.
U.S. West Texas Intermediate (WTI) crude futures <CLc1> were at 36.04 per barrel, up from 2009 lows of $33.98 during the previous session.
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The global crude benchmark Brent <LCOc1> was at $36.46 per barrel at 0213 GMT. That was over $2 above the 11-year low hit on Monday, although traders said the price jump was more related to a roll-over in contracts and the start of the peak demand winter season than because of changing fundamentals.
U.S. West Texas Intermediate (WTI) crude futures <CLc1> were at 36.04 per barrel, up from 2009 lows of $33.98 during the previous session.
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