Oil Updates — Crude edges up; UK oil and gas sector faces $24 billion bill to plug old wells 

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Tue, 2022-11-22 09:33

RIYADH: Oil prices inched higher on Tuesday as the dollar eased, but global recession worries and concerns about China’s rising COVID-19 case numbers denting demand from the world’s top crude oil importer weighed on sentiment. 

Brent crude futures rose 44 cents, or 0.5 percent, to $87.89 by 0513 GMT. US West Texas Intermediate crude futures for January began trading Tuesday, rising 30 cents, or 0.4 percent, to $80.34 a barrel. 

UK oil and gas sector faces $24 billion bill to plug old wells: report 

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