Oil price steady as Libya output decline offsets risks to Asian demand

Brent futures edged up 8 cents, or 0.1%, to settle at US$65.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 8 cents, or 0.1%, to end at $61.43. Libya said its oil production fell to about 1 million barrels per day in recent days and could drop further due to budgetary issues. (File pic shows oil storage in Libya)

NEW YORK: Oil prices were little changed on Thursday as concerns over lower crude production in Libya offset expectations that rising coronavirus cases in India and Japan would cause energy demand to decline.

Brent futures edged up 8 cents, or 0.1%, to settle at US$65.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 8 cents, or 0.1%, to end at $61.43.