Oil steadies as U.S. inventory fall tempers demand woes | Reuters
Oil prices were broadly steady on Wednesday as rising global COVID-19 cases took the shine off an earlier rally spurred by a bigger-than-expected drop in U.S. crude inventories.
Brent crude prices were up 11 cents, or 0.2%, at $56.69 a barrel by 1311 GMT. Prices rose as far as $57.42 a barrel earlier in the session, the highest since Feb. 24.
The next milestone for Brent prices is a rise above $60, a level not seen since late January 2020.
U.S. West Texas Intermediate (WTI) was up 22 cents, or 0.4%, at $53.43, after hitting a session high of $53.93, its highest since Feb. 20.
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