Oil steady as rising India COVID-19 cases weigh | Reuters

Oil steady as rising India COVID-19 cases weigh | Reuters

Oil prices were broadly steady on Friday with support from a European economic recovery countered by concerns as coronavirus infections in India surged to record levels.

Brent crude dipped 4 cents, or 0.1%, to $65.36 a barrel at 1220 GMT, while U.S. West Texas Intermediate (WTI) U.S. crude gained 7 cents, or 0.1%, to $61.50 a barrel.

Euro zone Purchasing Managers' Index (PMI) data for April showed a stronger than expected recovery and more European states began easing coronavirus lockdowns. France said schools would reopen on Monday.

"Stronger PMIs across Europe, a weaker U.S. dollar, and some European countries planning to ease some of their restrictions are slightly supporting oil prices," UBS oil analyst Giovanni Staunovo said.