Tight supply, inflation concerns keep crude oil investors on fence
Oil prices steadied on Thursday as investors weighed supply concerns against growing expectations that key Western economies will maintain high interest rates to tackle stubborn inflation.
By 1111 GMT, Brent crude futures were down 37 cents to $96.18 a barrel after rising to their highest level since last November earlier in the session. The November contract expires on Friday.
The December Brent contract was down 35 cents at $94.01 a barrel.
U.S. West Texas Intermediate crude futures (WTI) were 24 cents lower at $93.44 a barrel, after rising above $95 earlier in the session for the first time since August 2022.
