Oil Holds Near $85/bbl on Stronger Demand Prospects

Oil Holds Near $85/bbl on Stronger Demand Prospects
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, on Jan. 21, 2019. Agustin Marcarian/Reuters
|Updated:

LONDON—Oil prices steadied near 2-month highs on Thursday, with Brent crude trading near $85 a barrel buoyed by expectations that a strong economic recovery will boost demand, but rising U.S. inventories and high inflation capped gains.

Brent crude futures gained 15 cents, or 0.2 percent, to $84.82 a barrel, by 1024 GMT.