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PHOTO FEATURE: Oil tankers pbad through the Strait of Hormuz on December 21, 2018. REUTERS / Hamad I Mohammed / File Photo
SYDNEY (Reuters) – Oil prices stabilized on Thursday, but worries about global growth and the surge in US stocks kept the market under pressure.
The Brent International Crude Oil futures, LCOc1, were at $ 61.17 per barrel at 12.12 GMT, up 3 cents from their latest settlement, after closing 0.6% lower at the end of the year. former.
The futures price of WTI (West Texas Intermediate) CLc1 US crude futures was $ 52.63 per barrel, up 3 cents from their latest settlement. WTI futures have changed little on Wednesday.
Analysts say oil remains under pressure amid growing concerns over slowing global economic growth.
"Global demand for energy has been weak, with uncertainty remaining in the minds of investors," said Alfonso Esparza, senior badyst at OANDA.
Analysts also reported an unexpected increase in US crude oil inventories after refinery production declined, according to industry data.
Crude oil inventories increased 6.6 million barrels during the week ended January 18, to $ 443.6 million, while badysts expected a decrease of 42,000 barrels.
Gasoline inventories increased by 3.6 million barrels, compared to a Reuters poll of 2.7 million barrels.
Report by Colin Packham; edited by Richard Pullin
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