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Oil stable on strong China data, but rising U.S. output caps gains

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices were stable on Wednesday after posting two days of declines at the start of the week, with support largely coming from strong China data that implies higher future imports, while the relentless rise in U.S. crude output capped gains. U.S. West Texas Intermediate (WTI) crude futures were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement.Brent crude futures were at $64.62 per barrel, down just 2 cents from their last close.Wednesday's tepid support came from China, which reported January-February ...

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First Published: Wed, March 14 2018. 13:29 IST