Brent steady below $112

SINGAPORE: Brent futures steadied below $112 per barrel on Wednesday as investors awaited Chinese trade data, US corporate earnings and the outcome of a European Central Bank policy meeting to glean insights into the health of the world’s biggest economies.

China, the world’s biggest energy consumer, will release its December trade figures on Thursday and fourth-quarter economic growth numbers on Jan. 18, while the ECB and Bank of England will begin their policy meetings later in the day.

Investor caution preceding the events also kept a lid on Asian stock gains. For the oil markets, inventory data showing a jump in US crude stockpiles added to the pressure.

Front-month Brent futures shed 3 cents to $111.91 per barrel at 0621 GMT, after adding 54 cents on Tuesday. US crude was trading down 11 cents at $93.04 per barrel.

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