Home / World News / Oil steadies at $55.89 a barrel as Covid-19-induced demand worries persist

Oil steadies at $55.89 a barrel as Covid-19-induced demand worries persist

Brent crude futures were up 8 cents, or 0.1%, at $55.89 a barrel by 1331 GMT, having hit a session low of $55.31

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US West Texas Intermediate (WTI) crude futures were down 8 cents, or 0.2%, at $52.77 after dropping as low as $52.22 | Photo: Bloomberg

Reuters

2 min read Last Updated : Jan 28 2021 | 8:00 PM IST

Oil steadied on Thursday after early declines fuelled by delays to vaccine rollouts and fresh travel curbs to prevent new coronavirus outbreaks.

Brent crude futures were up 8 cents, or 0.1%, at $55.89 a barrel by 1331 GMT, having hit a session low of $55.31.

US West Texas Intermediate (WTI) crude futures were down 8 cents, or 0.2%, at $52.77 after dropping as low as $52.22.

Oil prices were supported by data on Wednesday showing a huge 10 million barrel decline in US crude inventories last week, which analysts said was because of a pick-up in US crude exports and

Topics : Coronavirus Oil Prices global oil prices

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