Oil prices nudge up, but economic worries loom
Oil prices recovered some ground on Wednesday, boosted by a wider market pickup on positive news from China's services sector, after three days of losses on fears about a weakening global economy.
Oil prices recovered some ground on Wednesday, boosted by a wider market pickup on positive news from China's services sector, after three days of losses on fears about a weakening global economy.
A private survey showed that activity in China's services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year.
China is the world's second-largest oil consumer and largest importer.
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