Oil holds near year-long highs as Covid lockdowns seen easing

LONDON: Oil prices were steady on Tuesday, trading close to more than year-long highs on signs that global coronavirus restrictions were being eased although concerns about the pace of a US economic recovery kept gains in check.

Brent crude was up 7 cents, or 0.1%, at $65.31 a barrel by 1505 GMT, still close to its highest levels since January 2020. US crude fell 14 cents, or 0.2%, to $61.56 a barrel.

Both contracts rose more than $1 earlier before retreating.