Oil steadies after energy crunch stirs up volatility | Reuters
Oil prices steadied after whipsawing in a volatile session on Tuesday, as traders weighed the effect that higher energy costs could have on the global economic recovery.
Brent crude fell 23 cents to settle at $83.42 a barrel, after trading from a high of $84.23 to a low of $82.72. On Monday, the global benchmark hit $84.60, its highest since October 2018.
U.S. West Texas Intermediate crude futures (WTI) ended 12 cents higher at $80.64 a barrel, after ranging between $81.62 and $79.47.
Brent has risen for five consecutive weeks, while WTI has notched seven straight weeks of gains. Both contracts have risen by more than 15% since the start of September.
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