Oil prices balanced by both positive and negative news
Oil cartel Opec and its allies’ compliance with pledged oil output curbs is averaging 85% in January
26 January 2021 - 13:04
London — Oil prices were stable on Tuesday as concerns that a US stimulus package might hit snags and rising coronavirus cases countered bullish signals from better compliance with a supply cut deal and ongoing vaccine efforts.
Brent crude was up 15 US cents, or 0.3%, at $56.03 by 9.30am GMT, while US crude rose 11c, or 0.2%, to $52.88. Both contracts rose nearly 1% on Monday and are set to post the third monthly rise in a row, trading near 11-month highs...
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