Oil touches fresh 11-month highs after US inventory fall
Oil prices were steady on Thursday after hitting fresh 11-month highs on a fall in US stockpiles and in the wake of a pledge by Saudi Arabia to cut output by more than expected.
Brent crude was up 5 cents to $54.35 a barrel at 1231 GMT after touching $54.90, a fresh high not seen since before the first COVID-19 lockdowns in the West.
US West Texas Intermediate (WTI) was up 26 cents, or 0.5% to $50.89 after touching $51.28.
