Oil steady as virus fears counter positive factory data – ZAWYA

Oil steady as virus fears counter positive factory data – ZAWYA

Oil steady as virus fears counter positive factory data Brent crude futures slid 27 cents, or 0.6%, to $43.25 a barrel    A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. TOKYO- Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe and Asia.Brent crude rose 5 cents, or 0.1%, to $43.57 a barrel by 1344 GMT while U.S. West Texas Intermediate (WTI) crude gained 6 cents, or 0.1%, to $40.33.In the last month, Brent has been trading in a range between $41 and almost $45.Brent crude rose 5 cents, or 0.1%, to $43.57 a barrel by 1344 GMT while U.S. West Texas Intermediate (WTI) crude gained 6 cents, or 0.1%, to $40.33.TOKYO- Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe and Asia.In the last