Oil steady amid weak economic data, equity markets

LONDON, Nov 5 (Reuters): Oil prices were steady on Wednesday as investors digested weaker economic data from top oil importers while US inventory data provided some support.
Brent crude futures were down 22 cents, or 0.34 per cent, at $64.22 a barrel by 1218 GMT, while US West Texas Intermediate crude was 28 cents, or 0.46 per cent, lower at $60.28.
Oil prices followed equities lower on Wednesday, as a shift in risk sentiment has been an important driver in recent days, said UBS analyst Giovanni Staunovo.
Weaker economic data coupled with a rally in the US dollar kept oil from making significant gains, while prices found support from refined products amid lower US stocks, PVM analyst Tamas Varga said. China's factory activity shrank for a seventh month in October, while US manufacturing contracted for an eighth straight month in October.