Oil Prices Steady, Supported by Middle East Supply Fears

August 06, 2024, 07.58 PM | Source: Reuters
Oil Prices Steady, Supported by Middle East Supply Fears

ILUSTRASI. A general view of the Phillips 66 Company's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, diesel fuel, and other petroleum products, in Carson, California, U.S. REUTERS/Bing Guan

OIL PRICE - LONDON. Oil prices pared gains in volatile trade on Tuesday as fears of an escalation in the Middle East conflict and a drop in production at Libya's largest oilfield raised the prospect of tight supplies.

However, buying was capped by a weak demand outlook in China, while a global market recovery from a sell-off on Monday provided support.

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