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Oil holds gains, buoyed by stronger demand

Reuters  |  LONDON 

By Christopher JohnsonLONDON (Reuters) - Oil prices steadied on Thursday, holding on to recent gains after forecasts for stronger oil demand by the International Energy Agency (IEA).Benchmark Brent crude was up 20 cents at $55.36 a barrel by 0930 GMT, after rising 89 cents or 1.6 percent on Wednesday. U.S. light crude was up 25 cents at $49.55 after gaining 2.2 percent in the previous session.Brent has now climbed more than $10 a barrel over the last three months and is close to where it was at the beginning of the year, trading between about $55 and $57 a barrel."By breaking $55.00 a barrel, ...

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First Published: Thu, September 14 2017. 15:19 IST
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