Oil settled higher on higher demand forecast

International benchmarks for crude oil jumped about $2/barrel on Wednesday, 14 December 2022 as both OPEC and the International Energy Agency (IEA) forecast a stronger rebound in demand next year, while the FED is expected to slow down the pace of interest rate hikes due to slowing inflation.

Brent added $2.02 or 2.4% to close at $82.70/barrel.

WTI gained $1.94 to settle at $77.28/barrel.