Oil prices fell on Thursday after a slump in the previous session, as rising U.S. stockpiles added to concerns about a hit to demand from surging coronavirus infections in Asia and possible U.S. rate hikes.
TOKYO -Oil prices steadied on Thursday after a two-day slump, reflecting the world's mixed economic recovery from the pandemic, with U.S. demand expected to keep rising, while a second coronavirus wave raging in India has led to more curbs on movement.
Brent crude was up 18 cents, or 0.3per cent, at US$66.84 a barrel by 0527 GMT, having fallen 3per cent on Wednesday. U.S. oil gained 37 cents, or 0.6per cent, to US$63.73 a barrel, after a 3.3per cent drop in the previous session.
"U.S. gasoline demand is holding up well ahead of the driving season," ANZ Research said in a note. Al...