LONDON—Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world’s second-largest oil consumer.
Brent crude futures were down 13 cents to $86.18 a barrel at 1018 GMT, while U.S. West Texas Intermediate crude was at $82.33 a barrel, down 19 cents.
Both contracts notched their fourth weekly gain in a row last week—the longest such streak since mid-2022.
The release of China’s first-quarter gross domestic product (GDP) data this week is expected to be positive for commodity prices, with the International Energy Agency (IEA) forecasting it will account for most of 2023 demand growth….