Crude steady as rising European COVID-19 cases offset U.S. oil stock draw
Oil prices were steady on Thursday as a new wave of coronavirus cases in Europe led several countries to reimpose travel restrictions, offsetting a bullish drop in U.S. crude and fuel inventories.
Brent futures LCOc1 settled 17 cents, or 0.4%, higher at $41.94 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 gained 38 cents, or 1.0%, to end at $40.31.
That cut Brent's premium over WTI WTCLc1-LCOc1 to its smallest closing level since late May when WTI settled higher than Brent on one day.
Reference: Reuters
Thai
Eng