Oil steady as coronavirus fears offset gasoline recovery signs - Reuters:
Concerns about renewed coronavirus lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand on Thursday to keep a lid on oil prices.
The market is also in a holding pattern ahead of a meeting on July 15 of the market monitoring panel of the Organization of the Petroleum Exporting Countries (OPEC) and its allies.
Brent crude futures were up 5 cents, or 0.12%, to $43.34 by 1139 GMT, after gaining 0.5% on Wednesday, while U.S. West Texas Intermediate (WTI) crude futures dipped 14 cents, or 0.3%, to $40.76, after rising 0.7% the previous day.
“Support will disappear after this week as coronavirus cases are surging in several U.S. states,” Tamas Varga at PVM Oil Associates said, adding that a fall in prices was likely.
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