Oil steady despite Libya supply drop, Shanghai preparing to reopen
Oil prices were little changed on Tuesday, after rising 1% in the previous session, as Libya was forced to halt some exports and as manufacturers in China prepared to reopen factories after a nearly three-week COVID-19 shutdown in Shanghai.
Brent crude futures rose 21 cents, or 0.2%, to $113.37 a barrel at 0020 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $108.19 a barrel.
Gains were limited with the dollar trading at a fresh two-year high. A stronger dollar hurts oil buyers holding other currencies.
Both benchmark contracts rose more than 1% in the previous session after hitting their highest since March 28 after Libya said it could not deliver oil from its biggest field and shut another field due to political protests.
