price movement
By 0027 GMT, crude futures were down Brent 19 cents, or 0.3 percent, to $73.69 a barrel, but is up 4.3 percent since the start of the week.
U.S. crude futures rose 6 cents to $72.01 a barrel, gaining 4.8 percent for the week, according to Reuters data.
The two benchmarks began to recover after falling to their lowest levels in nearly three years on September 10, and have recorded gains in five of the seven sessions since then.
The Federal Reserve cut Federal (The U.S. central bank) cut interest rates by half a percentage point on Wednesday. Rate cuts typically lead to Interest to boost economic activity and energy demand, but some saw the large cut as a sign of a weak U.S. labor market.
Government data showed on Wednesday that crude stocks in the United States, the world’s largest producer, fell to their lowest level in a year last week.
As I got Oil prices Crude supported by rising tensions in the Middle East. Walkie-talkies used by the Lebanese militant group Hezbollah exploded on Wednesday, a day after similar explosions of pagers.
Security sources said the Israeli intelligence agency Mossad was responsible for the attacks. Israeli officials have not commented on the bombings.
Weak demand from China’s slowing economy has weighed on prices, with Chinese refinery throughput falling for a fifth straight month in August. Industrial output growth in the country also slowed to a five-month low last month, and retail sales and new home prices fell further.
