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Oil prices steady as Chinese demand counters stronger dollar

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices were stable on Friday, held back by a strengthening U.S. dollar but supported by China's relentless thirst for crude amid the OPEC-led supply cuts that have already tightened the market this year.U.S. West Texas Intermediate (WTI) crude futures were at $56.68 a barrel at 0535 GMT, virtually unchanged from their last settlement at $56.69.Brent crude futures, the international benchmark for oil prices, were steady at $62.20 a barrel.Traders said a stronger dollar, which has gained 0.9 percent this month against a basket of other leading ...

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First Published: Fri, December 08 2017. 11:23 IST