LONDON—Oil prices held close to $80 a barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand.
Brent crude rose to as much as $79.20 a barrel before retreating to trade 24 cents down on the day at $78.70 by 1427 GMT. U.S. West Texas Intermediate (WTI) crude edged 32 cents lower to $75.65 after touching $76.17.
