Oil prices firm above January lows but concerns grow about demand | ZAWYA MENA Edition

Oil prices firm above January lows but concerns grow about demand | ZAWYA MENA Edition:

Oil prices rose on Thursday after falling to near five-month lows in the previous session, but sentiment stayed weak due to rising U.S. supply and a stalling global economy.

Front-month Brent crude futures were at $61.23 a barrel at 1046 GMT, up 60 cents or 1%. U.S. West Texas Intermediate crude futures CLc1 fetched $51.86, up 18 cents or 0.35%.

A day earlier the two benchmarks hit their lowest levels since mid-January at $59.45 and $50.60, respectively, amid a surge in U.S. crude inventories and record production.