LONDON, Aug 6 (Reuters) – Oil prices remained steady in volatile trading on Tuesday, supported by fears of a potential escalation in the Middle East conflict and reduced production at Libya’s largest oilfield.
Thank you for reading this post, don't forget to subscribe!Despite earlier gains, prices were tempered by a weak demand outlook in China and recovering financial markets.
Brent crude futures were down 9 cents to $76.21 per barrel, while U.S. West Texas Intermediate crude futures fell 8 cents to $72.86 per barrel.
Concerns over possible retaliation from Iran and ongoing regional tensions are keeping prices from falling further, though weak demand and lower production levels from Libya’s Sharara oilfield are offering some support.
