LONDON: Oil prices rose by more than $2 on Wednesday on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery. But the likelihood that OPEC+ will leave output unchanged at its upcoming meeting limited the gains.
Brent crude futures rose $2.34, or 2.82% to $85.37 per barrel by 1455 GMT. The more active February Brent crude contract rose by 3.04% to $86.81. US West Texas Intermediate (WTI) crude futures climbed $2.43, or 3.11%, to $80.63.
Support followed…