The price of North Sea oil (Brent) rose 1.2 percent to $92.60 per barrel in futures trading.
Wall Street closed lower on Tuesday after a US inflation report showed unexpectedly large price increases in October, pushing up market interest rates in the US and fueling speculation about an unusually large interest rate hike by the Federal Reserve (Fed) in December.
Overnight trading in Asia was mixed, with gains in Tokyo and losses in Hong Kong.
The OMXS index rose 0.5 percent on Tuesday and is up 10.4 percent since the start of the year.
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