Oil Steady As Chinese Data Offsets Coronavirus Fears

LONDON: Oil prices held steady on Monday as a better than expected quarterly rebound for China's economy countered fears over soaring COVID-19 cases around the world and tight restrictions that could dent economic growth and fuel consumption. Brent crude gained 3 cents, or 0.1%, at $55.13 a barrel by 0938 GMT while U.S. oil was up 2 cents, or less than 0.1%, at $52.38. China's economy picked up in the fourth quarter, with growth beating expectations as it ended a coronavirus-hit 2020 in remarkably good shape and remained poised to expand further this year even as the pandemic raged unabated….