Oil Steadies as Sverdrup Field Restart Counters Geopolitical Concerns

OIL PRICE - LONDON. Oil prices steadied on Tuesday as the restart of production at Norway's Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war.

Equinor resumed partial production from the North Sea oilfield, Western Europe's largest, after a power outage there helped lift oil prices by over 3% on Monday.