West Texas Intermediate for October delivery, which expires Tuesday, gained as much as 88 cents to $43.91 a barrel on the New York Mercantile Exchange and was at $43.64 as of 12:16 p.m. London time. The contract fell 88 cents to settle at $43.03 a barrel on Friday, the lowest close since Aug. 10. The more-active November contract was up 53 cents at $44.15. Brent for November settlement added as much as 85 cents, or 1.9 percent, to $46.62 a barrel on the London-based ICE Futures Europe exchange. Prices declined 82 cents, or 1.8 percent, to $45.77 a barrel on Friday. The global benchmark traded at a $2.14 premium to WTI for November delivery. The fighting in Libya forced the tanker Seadelta to suspend the loading of 781,000 barrels of oil for shipment to Italy, Nasser Delaab, petroleum operations inspector at Harouge Oil Operations, said by phone.
U.S. crude inventories rose last week by 2.8 million barrels, compared with analysts’ expectations for a decrease of 1.2 million barrels, the U.S. Energy Information Administration said.
Demand concerns on the back of economic jitters linked to the U.S.-Chinese trade war have also capped prices.
more detail at source: https://www.reuters.com/article/us-global-oil-idUSKCN1R903M