LONDON — Brent oil prices held near one-month highs on Thursday supported by China's efforts to boost its economy, a drop in new coronavirus cases at the epicentre of the outbreak and supply concerns in Venezuela and Libya. Brent crude futures were up 7 cents at $59.19 a barrel by 0939 GMT, after climbing to as high as $59.71 earlier in the day. West Texas Intermediate (WTI) crude futures climbed 17 cents to $53.46 per barrel. China's move to cut its benchmark lending rate on Thursday also helped ease worries about slowing demand in the world's second-biggest oil consumer and largest crude oil importer. China reported 349 new confirmed cases in Hubei province on Wednesday, the lowest in more than three weeks, while the death toll rose by 108, down from 132 the previous day.

Source: International New York Times February 20, 2020 05:03 UTC