KONTAN.CO.ID - LONDON. Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, although lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices. Having dipped into negative territory, Brent crude futures rose 26 cents, or 0.3%, to $105.25 a barrel by 0823 GMT. U.S. West Texas Intermediate crude futures gained 10 cents, or 0.1%, to $101.80 a barrel. Oil prices shrugged off the dollar rising to its highest in two years, making oil purchases more expensive for holders of other currencies.
Oil Prices Steady as Russia Supply Fears Meet Asian Demand Concerns
KONTAN.CO.ID - LONDON. Oil was broadly steady on Wednesday after Russia cut gas supplies to Bulgaria and Poland, although lingering concerns about Asian coronavirus lockdowns weighing on economic growth and oil demand kept a lid on prices. Having dipped into negative territory, Brent crude futures rose 26 cents, or 0.3%, to $105.25 a barrel by 0823 GMT. U.S. West Texas Intermediate crude futures gained 10 cents, or 0.1%, to $101.80 a barrel. Oil prices shrugged off the dollar rising to its highest in two years, making oil purchases more expensive for holders of other currencies.