Oil futures inched higher on Thursday, recouping a small portion of losses from a day earlier that pulled prices to their lowest finish in a month. Oil bulls will need to see “renewed evidence of a soft/no-landing scenario in coming global economic releases and better growth metrics overseas,” said Tyler Richey, co-editor at Sevens Report Research. West Texas Intermediate crude for October delivery CLV23, +0.27% climbed by 16 cents, or 0.2%, to settle at $79.05 a barrel on the New York Mercantile Exchange.
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