Oil prices steadied on Tuesday as demand fears from the new coronavirus offset high compliance with supply cuts from the OPEC+ producer group.
Brent crude futures rose 4 cents to $45.41 a barrel by. U.S. West Texas Intermediate crude futures were unchanged at $42.89 per barrel.
The coronavirus pandemic, which has raged for months, shows no signs of letting up. In the Americas alone, almost 11.5 million have contracted the disease, and over 400,000 people have died as a result of the pandemic, the World Health Organization regional director Carissa Etienne said on Tuesday.
Meanwhile, some European countries have renewed travel quarantines, which impact jet and motor fuel demand.
Reference: CNBC
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