Oil prices steadied on Thursday after a two-day slump, reflecting the world’s mixed economic recovery from the pandemic, with US demand expected to keep rising, while a second coronavirus wave raging in India has led to more curbs on movement.
Brent crude was up 11 cents, or 0.2 per cent, at $66.77 a barrel by 0657 GMT, having fallen 3 per cent on Wednesday. US oil gained 25 cents, or 0. per cent, to $63.61 a barrel, after a 3.3 per cent drop in the previous session.
“US gasoline demand is holding up well ahead of the driving season,” ANZ Research said in a note. Also, “US airport footfalls increased to 1.85 million, boding well for jet fuel demand.”
