Oil steady as U.S. stimulus hopes counter demand concerns


An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia.

Simon Dawson | Bloomberg | Getty Images

Oil prices were steady on Tuesday as hopes for additional U.S. measures to stimulate the economy countered a demand outlook dampened by rising of coronavirus cases across the globe.

Brent crude was up 13 cents, or 0.3%, at $43.54 a barrel, while West Texas Intermediate crude fell 11 cents, or 0.3%, to $41.49 a barrel.

“Oil continues to trade in a range with its supply fundamentals helping to set a floor while the economic and demand outlook is providing the cap,” said Harry Tchilinguirian, head of commodity research…


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