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Oil steadies after big fall, but soaring US crude output still weighs

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil prices steadied on Thursday, supported by healthy demand, after falling the previous day on the back of record U.S. crude production and rising inventories.Brent crude futures were at $64.46 per barrel at 0506 GMT, up 12 cents, or 0.2 percent, from their previous close. That slight rise came after a more-than-2 percent fall the previous day.U.S. West Texas Intermediate (WTI) crude futures were at $61.26 a barrel, up 11 cents, or 0.2 percent. WTI also fell by more than 2 percent the previous session.The slight recovery on Thursday came amid a U.S. ...

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First Published: Thu, March 08 2018. 10:47 IST