Oil prices rebound after knock from US driving season data

Oil prices rose on Thursday a day after slipping on data indicating weak US driving season fuel demand as investors eyed upcoming US economic data.

Brent crude oil futures were up 18 cents, or 0.25%, at $ 72.40 a barrel by 1024 GMT, holding just shy of a high not seen since May 2019.

US West Texas Intermediate oil futures rose 11 cents, or 0.16%, to $ 70.07 a barrel, staying near its highest since Oct. 2018.

“The market is recovering impressively from yesterday’s dismal weekly EIA report, the drop in weekly gasoline demand was particularly disappointing,” said Tamas Varga, analyst at PVM …