Oil prices steady in early Asian trade

Mark
Written By Mark

Oil prices were steady in early Asian trading today, as signs of weak demand growth in China contrasted with the prospect of a decline in US oil inventories.
Brent crude futures fell 11 cents, or 0.1 percent, to $83.62 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 11 cents, or 0.1 percent, to $80.65 a barrel.
Both benchmarks had fallen in the previous three sessions, with Brent crude futures hitting $83.30 on Tuesday, their lowest since June 17.
Concerns about demand and a strong dollar have offset signs of tightening supplies in the United States, the world’s largest oil producer and consumer.