Oil prices held mostly steady on Thursday as a smaller-than-expected draw in U.S. crude inventories and continued worries over China demand countered supply ...
TOKYO - Oil prices held mostly steady on Thursday as a smaller-than-expected draw in U.S. crude inventories and continued worries over China demand countered supply disruptions out of Libya .
Losses were limited, however, by worries over disruption to supplies out of Libya, a member of the Organization of the Petroleum Exporting Countries . Lower interest rates decrease the cost of borrowing, and that can boost economic activity and increase demand for oil.Oil prices held mostly steady on Thursday as a smaller-than-expected draw in U.S. crude inventories and continued worries over China demand countered supply disruptions out of Libya. Brent crude futures were down 1 cent, or 0.01%, at $78.64 a barrel at 0043 GMT, while U.S. West Texas Intermediate crude futures were up 8 cents, or 0.1%, to $74.60.
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