Commodities
Oil Rises from Six-Month Low as Metrics Signal Drop Was Overdone
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Oil edged up as internal market metrics flashed signs that recent declines were overdone, overshadowing the prospect of a temporary truce in Ukraine.
West Texas Intermediate rose 0.3% to top $66 a barrel, recovering from the lowest closing price in six months. Ukraine said it’s ready to accept a US proposal for a 30-day truce in Russia’s war, raising expectations that Moscow’s crude may again flow freely in the near future.