RIYADH: Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5 percent with the new lockdowns in countries facing surging cases of the covid Delta variant dampening the outlook for fuel demand, Reuters reported.
Brent crude futures rose 24 cents or 0.4 percent to $66.69 a barrel at 0635 GMT, after dropping 2.6 percent on Thursday to its lowest close since May, while U.S. West Texas Intermediate (WTI) crude futures for September, due to expire on Friday, rose 38 cents or 0.6 percent to $64.07 a barrel , after sliding 2.7 percent on Thursday.
Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to a nine-month high on signs the U.S. Federal Reserve is considering reducing stimulus this year.
