Oil steady amid rosier outlook for global economy, strong fuel demand
TOKYO (Reuters) – Oil prices were steady on Tuesday after two straight sessions of gains as the passage of a U.S. infrastructure bill, strong Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand.
Brent crude was down 2 cents at $83.41 a barrel by 0735 GMT, after gaining 0.8% on Monday. U.S. oil was up 3 cents at $81.96 a barrel, also after a 0.8% gain the previous day.
U.S. President Joe Biden’s long-delayed $1 trillion infrastructure bill – which passed through Congress at the weekend – and better-than-expected Chinese exports helped paint a picture of a more expansive global economy.
