Oil ticked up on Wednesday, still hovering near six weeks low with few indications of increase in fuel consumption commonly witnessed during this period of the northern hemisphere summer.

Prices halted three consecutive sessions of slump amid a drop in the US crude inventories and mounting supply concerns triggered by the Canadian wildfires.

Brent crude edged up by 0.81% to $81.67 per barrel while US WTI added 1.01%, to $77.74 per barrel.

Oil prices fell to a six-week low on Tuesday, with Brent crude ended at its lowest level since June 9 due to ongoing ceasefire negotiations between Israel and Hamas. The negotiations were initiated by U.S. President Joe Biden in May with the mediation of Egypt and Qatar.

Prices also hurt because of the ongoing slow in the Chinese economy, the top crude importer will pressure the oil demand.

On the other hand, government data revealed that crude deliveries to India, the third-largest importer and consumer of oil globally, fell in June to their lowest level since February.

Oil prices gained support from the drop of the US crude inventories that fell for the forth week in a row based on API figures, mirroring a stable demand in the US.