Oil prices rose on Thursday, supported by news of an attack on a Nigerian pipeline and moving up off a five-week low reached the previous session when U.S. crude stocks data compounded doubts that a glut in global oil supplies could be eroded. Brent crude was trading up 48 cents, or 1 percent, at $47.34 a barrel by 1200 GMT. U.S. crude was up 40 cents, or 0.9 percent, at $45.74 per barrel. Prices were underpinned by concerns about supply disruptions after militants in Nigeria's southern Niger Delta oil hub attacked a pipeline operated by the Nigerian National Petroleum Corporation on Wednesday.
Oil prices fell on Wednesday on weak economic data from China and Europe and a rise in U.S. crude inventories, partly erasing the previous session’s sharp gains after the United States said it would delay tariffs on some Chinese products.
Data from industry group the American Petroleum Institute (API) showed U.S. crude stocks unexpectedly rose last week. Crude inventories increased by 3.7 million barrels to 443 million, compared with analyst expectations for a decrease of 2.8 million barrels, the API said.
more at source: https://www.cnbc.com/2019/08/14/reuters-america-update-4-oil-prices-fall-on-weak-economic-data-from-europe-and-china.html