Oil steadies as investors eye US crude supplies
Wednesday, 19 July 2023
LONDON, July 18 (Reuters): Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth.
Both benchmark contracts fell more than 1.5 per cent on Monday following lacklustre economic data from China, the world's largest oil importer, as well as the partial restart of some Libyan oilfields.
Brent crude was up 7 cents at $78.57 a barrel by 1330 GMT, while US West Texas Intermediate (WTI) crude rose 10 cents to $74.25 a barrel in relatively muted trading, with the contract set to expire on Thursday.