Fri, 2021-01-08 00:23
LONDON: Oil prices were steady on Thursday after hitting fresh 11-month highs on a fall in US stockpiles and in the wake of a pledge by Saudi Arabia to cut output by more than expected.
Brent crude was up 5 cents to $54.35 a barrel at London afternoon trade after touching $54.90, a fresh high not seen since before the first COVID-19 lockdowns in the West.
US West Texas Intermediate (WTI) was up 26 cents, or 0.5 percent to $50.89 after touching $51.28.
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