LONDON—Crude oil prices were steady on Tuesday as concerns about a global economic slowdown and expected build in U.S. oil inventories were offset by hopes of a fuel demand recovery from top importer China.
Brent crude was down 30 cents, or 0.3 percent, at $87.89 a barrel by 1010 GMT. U.S. West Texas Intermediate (WTI) crude fell 35 cents, or 0.4 percent, to $81.27.
“The (United States) economy still could roll over and some energy traders are still sceptical on how quickly China’s crude demand will bounce back this quarter,” OANDA analyst Edward Moya said in a note.
This week traders are watching for more business data as corporate earnings season gathers momentum, offering clues to the health of economies around the globe….