Monday 11 March 2024

Oil prices steady as Middle Eastern supply concerns ease | Reuters

Oil prices steady as Middle Eastern supply concerns ease | Reuters

Oil prices were little changed on Monday as concern eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand, while an increase in U.S. refining limited any selling.

Brent futures for May delivery settled at $82.21 a barrel, gaining 13 cents. The U.S. crude April contract slipped 8 cents to end at $77.93 a barrel.

"I guess it's the barrel half empty or the barrel half full, depending on how you look at it," said Phil Flynn, pointing to conflicting forces keeping oil prices from moving far in either direction.

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