LONDON—Oil prices were steady on Monday as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers.
Brent crude futures rose 13 cents, or 0.2 percent, to $75.71 a barrel by 0850 GMT, while U.S. West Texas Intermediate (WTI) crude for July delivery, the more actively traded contract, rose 12, or 0.20 percent, to $71.81.
The June WTI contract, which expires later on Monday, fell 10 cents to $71.45 a barrel.
Talks to avert a default on U.S. debt were set to resume in Washington on Monday, as the prospect of a default and resulting possible economic downturn and cooling of fuel demand continued to spook markets….