Oil price steadies after IEA raises 2022 demand growth outlook

After the International Energy Agency (IEA) raised its oil demand growth forecast for 2022 by 3,80,000 barrels per day, oil prices steadied on Thursday. Brent crude futures fell 7 cents to $97.33 a barrel, while US West Texas Intermediate crude futures eased 9 cents to $91.84. "Natural gas and electricity prices have soared to new records," the IEA said.