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Oil steady after sharp rise on improved fuel demand picture

Brent crude futures were up 16 cents, or 0.22%, at $71.51 a barrel by 1244 GMT after touching their highest since September 2019 at $71.99. The international benchmark had gained 1.6% on Wednesday

Oil Prices
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OPEC+ agreed on Tuesday to continue with plans to ease supply curbs through July.

Julia Payne | Reuters London

Oil prices were little changed on Thursday after strong gains in the previous two sessions on expectations for surging fuel demand later this year while major producers maintain supply discipline.

Brent crude futures were up 16 cents, or 0.22%, at $71.51 a barrel by 1244 GMT after touching their highest since September 2019 at $71.99. The international benchmark had gained 1.6% on Wednesday.

US West Texas Intermediate crude futures rose 14 cents, or 0.20%, to $68.97. Prices rose as high as $69.40, the strongest since October 2018, after gaining 1.5% in the previous session.

The consensus among market forecasters, including the Organization of