Oil holds steady as virus concerns weigh on demand hopes – ZAWYA

Oil holds steady as virus concerns weigh on demand hopes – ZAWYA

Oil holds steady as virus concerns weigh on demand hopes The most active Brent crude contract for October was up 4 cents or 0.1% at $44.13 a barrel    Oil drilling rig operation on the oil platform in oil and gas industry. Industrial concept. Image used for illustrative purpose.MELBOURNE/SINGAPORE  - Oil prices were little changed on Thursday, restrained by concerns that surging coronavirus infections could jeopardize a recovery in fuel demand just as major oil producers are set to raise output.The most active Brent crude contract for October was up 4 cents or 0.1% at $44.13 a barrel at 0330 GMT. The September Brent contract, which is expiring on Friday, was unchanged at $43.75 a barrel in light trading.U.S. West Texas Intermediate (WTI) crude futures were down one cent at $41.26 a barrel.The most active Brent crude contract for October was up 4 cents or 0.1% at $44.13 a barrel at 0330 GMT. The September Brent contract, which is expiring on Friday, was unchanged at $43.75 a barrel in light trading.MELBOURNE/SINGAPORE  - Oil prices were little changed on Thursday, restrained by concerns that surging coronavirus infections could jeopardize a recovery in fuel demand just as major oil producers are set