Oil prices were steady on Tuesday, sitting on losses of nearly 3 per cent from the previous session as supplies began to resume in Norway, the US Gulf of Mexico and Libya, while the IEA forecast a 5 per cent fall in global energy demand in 2020.
US West Texas Intermediate (WTI) crude futures inched up 4 cents to $39.47 a barrel at 0448 GMT, while Brent crude futures also rose 4 cents to $41.76 a barrel.
Oil prices are under pressure from concerns about the return of supplies, while resurgent Covid-19 infections in the US. Midwest and Europe raise worries about fuel demand growth, posing a challenge for the Organization of Petroleum Exporting Countries and its allies, together called OPEC+.
