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Oil stable as stronger dollar weighs while China's relentless oil thirst supports prices

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 0407 GMT, virtually unchanged from their last settlement at $56.69.Brent crude futures, the international benchmark for oil prices, were also little changed, at $62.21 a barrel, up just one cent.Traders said a stronger dollar, which has gained 0.8 percent this month ...

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First Published: Fri, December 08 2017. 09:50 IST