Rebounding China helps oil price steady
Security concerns ahead of the US presidential inauguration are also dragging on investor sentiment, said PVM Oil analyst Tamas Varga
18 January 2021 - 13:40
London — Oil prices held steady on Monday as a better-than-expected quarterly rebound for China’s economy countered fears over soaring Covid-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption.
Brent crude gained three US cents, or 0.1%, at $55.13 a barrel by 9.38am GMT while US oil was up 2c, or less than 0.1%, at $52.38...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.