Oil prices were little changed in early Asian trade on Monday, after settling down $2 a barrel on Friday, as rising supplies in the United States and forecasts of more interest rate hikes cooled optimism over China’s demand recovery.
Brent crude slid 9 cents, or 0.1 per cent, to $82.91 a barrel by 0051 GMT. US West Texas Intermediate crude for March, which expires on Tuesday, was at $76.40 a barrel, up 6 cents. The more active April contract fell 9 cents to $76.46.
The benchmarks closed lower by about 4 per cent last week after the United States reported higher crude and gasoline inventories.
