Oil prices steadied on Thursday, but concerns over global growth and a sharp rise in U.S. stocks kept the market under pressure.
International Brent crude oil futures were at $61.17 a barrel at 0124 GMT, up 3 cents from their last settlement, having closed down 0.6 percent in the previous session.
U.S. West Texas Intermediate (WTI) crude futures were at $52.63 per barrel, up 3 cents from their last settlement. WTI futures closed little changed on Wednesday.
Analysts said oil remains under pressure amid growing concerns about a slowdown in global economic growth.
“Global energy demand has been soft as uncertainty remains in the minds of investors,” said Alfonso Esparza, senior analyst, OANDA.
Analysts also pointed to a surprise increase in U.S. crude stocks after refineries cut output, according to industry data.
via Business Insider
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