Oil prices steady but rising infections and oil supply weigh | Reuters

Oil prices steady but rising infections and oil supply weigh | Reuters: 

Oil prices were little changed on Tuesday, steadying after three days of declines due to worries that a resurgence of coronavirus cases globally is stifling a recovery in fuel demand, while growing output from Libya adds to plentiful supply.

Brent crude LCOc1 futures were trading down 4 cents, or 0.1%, at $42.58 a barrel by 0635 GMT, recovering ground after falling to as low as $42.19 earlier in the session.

U.S. West Texas Intermediate (WTI) crude CLc1 futures edged up 1 cent to $40.84 a barrel, having earlier dropped to $40.48.

COVID-19 cases topped 40 million on Monday, according to a Reuters tally, with a growing second wave in Europe and North America sparking new clampdowns.