LONDON—Oil prices were steady on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand were balanced by the prospect of tightening supplies.
Brent crude slipped 22 cents, or 0.3 percent, to $81.44 a barrel by 0905 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.1 percent, at $77.77.
Both contracts fell more than 5 percent last week for their first weekly declines in five as U.S. implied gasoline demand fell from a year earlier.
Weak U.S. economic data and worse than expected corporate earnings from the technology sector sparked growth concerns among investors, CMC Markets analyst Tina Teng said. The stabilizing U.S. dollar and climbing bond yields are also adding pressure on commodity markets, she added….