Oil prices steady as markets weigh weak China data, tighter crude supplies

Oil prices held steady in early trading on Wednesday after a 1% drop in the previous session, as markets weighed weak economic data from China, the world’s biggest oil importer, against tightening U.S. crude supplies.

Brent crude futures rose 3 cents to $84.92 a barrel at 0001 GMT, while U.S. West Texas Intermediate crude (WTI) rose 5 cents $81.04. Both benchmarks had weakened to their lowest since Aug. 8 on Tuesday.