Oil prices steady amid worries of severe economic slowdown | Reuters

Oil prices steady amid worries of severe economic slowdown | Reuters:

Oil prices were steady on Monday, with concerns of a sharp economic slowdown competing with support from tighter supply due to OPEC’s production cutbacks and U.S. sanctions on Iran and Venezuela.

Brent crude oil futures were down 7 cents, or 0.1 percent, at $66.96 per barrel at 0955 GMT, while U.S. West Texas Intermediate (WTI) futures were unchanged at $59.04 per barrel.

Both crude oil price benchmarks closed down on the week since briefly hitting their highest since November 2018.