Oil prices have steadied, supported by improving economic data but held in check by sharp spikes in new coronavirus infections around the world that have forced some countries to impose partial lockdowns. Reuters reported.

Brent crude LCOc1 fell 4 cents, or 0.1%, to $40.98 a barrel by 1031 GMT and U.S. crude CLc1 was up 7 cents, or 0.2%, at $38.56.

Crude prices found some support as profits at China’s industrial firms rose for the first time in six months in May, suggesting the country’s economic recovery is gaining traction.