LONDON—Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world’s largest oil consumer.
Brent crude fell 7 cents, or 0.08 percent, to $87.26 a barrel by 0935 GMT. U.S. West Texas Intermediate (WTI) was unchanged at $83.26.
Both benchmarks had risen 2 percent on Wednesday to their highest in more than a month as cooling U.S. inflation spurred hopes that the U.S. Federal Reserve will stop raising interest rates.
However, minutes from the Fed’s last policy meeting indicated that banking sector stress could tip the economy into recession, which would weaken U.S. oil demand….