Oil firms above January lows but still pressured

U.S. West Texas Intermediate crude for October delivery was up 31 cents, or 0.4 percent, at $71.43 a barrel by 0018 GMT, after settling up $1.27. Front-month London Brent crude, for November delivery, was down 2 cents at $79.38, having ended up 37 cents.

SINGAPORE: Oil prices firmed yesterday after falling to near five-month lows in the previous session, but sentiment remained weak as markets remain under pressure from rising US supply and a stalling global economy.

Front-month Brent crude futures were at US$60.79. That was 16 US cents, or 0.3%, above last session’s close.