Tue, 2023-02-28 12:19
RIYADH: Oil prices were steady in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further US interest rate hikes potentially hurting demand in the world’s biggest economy.
Brent crude futures for April, due to expire on Tuesday, gained 56 cents or 67 percent to $83.00 per barrel by 10.50 a.m. Saudi time. The more active May contract firmed 17 cents to $82.21 per barrel.
US West Texas Intermediate crude futures rose 61 cents or 81 percent to $76.29 a barrel.
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