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Meanwhile, oil prices had stabilised from Wednesday’s wobble, which saw the price of West Texas Intermediate crude sink 5% to $45.72 p/b and the price of Brent crude fall 4% to $48.06.
Yesterday’s slide in oil prices, the largest since March, was brought about as data revealed US crude and fuel stockpiles were booming at a time of year when production levels typically slow.
On Thursday, the West Texas Intermediate was back up to $46 p/b and the price of Brent crude had stabilised at $48.43 p/b.
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