Crude Oil Prices On Recovery

Oil prices are into recovery during the Asian trading hours after falling around 5%.

Now, oil trades at $52.48, which is an incline of $0.19 or 0.36% from the previous close of 52.29.

The trading volume is 98.077K, while the daily range is from 52.23 to 52.83.

Oil prices were boosted after the data possible producer actions to prop up oil markets.

Oil prices slipped after the weekly report of the U.S. Energy Information Administration (EIA) on oil inventory indicating that crude stockpile rose by 2.39 million barrels.

The EIA also announced that gasoline inventories unexpectedly advanced by 4.44 million barrels, versus to forecasts for a draw of 0.72 million barrels.