Beijing: Oil prices stabilised in early Asian trading on Monday after sharp falls last week, amid continued attempts to reach a ceasefire in the Israel-Palestinian conflict even as the US planned new strikes on Iran-backed groups.
Brent crude futures inched up 8 cents to $77.41 a barrel by 0131 GMT, while US West Texas Intermediate futures were flat at $72.28 a barrel.
Both benchmarks ended last week down about 7 per cent. They fell 2 per cent on Friday after stronger-than-expected US jobs data suggested interest rate cuts could be further out than expected, and on progress in ceasefire negotiations between Israel and Hamas.
