Oil prices steady as clouds gather over fuel demand, looser supply curbs

Oil prices were unchanged on Friday, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries just as major producers get set to loosen production curbs.

U.S. West Texas Intermediate (WTI) crude futures rose 1 cent to $40.76 a barrel at 0204 GMT, while Brent crude futures were steady at $43.37 a barrel. Both were still on track to end the week up slightly.

On Thursday, the United States reported at least 75,000 new COVID-19 cases, a new daily record. Spain and Australia reported their steepest daily jumps in more than two months, cases continued to soar in India and Brazil stepped up lockdown measures.