Oil steady as U.S. stock market slides, inventories rise | Reuters:
Oil prices were steady on Friday, but were on track for a second weekly fall after U.S. stock markets tumbled and U.S. stockpiles rose unexpectedly.
Brent LCOc1 was down 2 cents, or less than 0.1%, at $40.04 a barrel by 1128 GMT, while U.S. crude CLc1 was up 12 cents, or 0.3%, to $37.42 a barrel.
Both benchmarks were 6% down for the week.
“Financial markets are continuing to set the tone, including on the oil market. The renewed slide on U.S. stock markets dragged oil prices down with it,” Commerzbank analyst Eugen Weinberg said.
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