|
Brent crude dipped 4 cents, or 0.1%, to $65.36 a barrel at 0955
GMT, while U.S. West Texas Intermediate (WTI) U.S. crude gained
9 cents, or 0.2%, to $61.52 a barrel.
Euro zone Purchasing Managers' Index (PMI) data for April showed
a stronger than expected recovery and more European states began
easing coronavirus lockdowns. France said schools would reopen
on Monday.
"Stronger PMIs across Europe, a weaker U.S. dollar, and some
European countries planning to ease some of their restrictions
are slightly supporting oil prices," UBS oil analyst Giovanni
Staunovo said.
"Oil demand concerns in India due to rising COVID cases are
capping the upside."
Both benchmark crudes were headed for a weekly loss of more than
2% due to the resurgence of infections in India and Japan,
respectively the world's third and fourth largest oil importers.
Several countries, including Australia, Britain, Canada, and the
United Arab Emirates have barred or cut flights from India.
Japanese declared a state of emergency in Tokyo, Osaka and two
other prefectures on Friday.
Adding to the more upbeat outlook in European, U.S. economic
data were positive and the number of Americans filing new claims
for unemployment benefits fell to a 13-month low last week.
"The U.S. oil demand outlook continues to go from strength to
strength. Latest weekly jobless claims brought more good macro
news for the world’s biggest economy," said Stephen Brennock of
oil broker PVM.
U.S. refiner Valero said gasoline and diesel demand was at 93%
and 100% of pre-pandemic levels.
(Reporting by Bozorgmehr Sharafedin in London, additional
reporting by Sonali Paul in Melbourne and Koustav Samanta in
Singapore; Editing by Jason Neely and Edmund Blair)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
