Oil prices steady as Middle East war counters demand concerns in China

News Snapshot:

Global benchmark Brent held steady, hovering around $82 a barrel on Monday, as persistent geopolitical concerns in the Middle East and Russia collide with jitters about softening demand in China. Brent futures were up 26 cents at $82.34 a barrel as at 1015 GMT, while U.S. West Texas Intermediate (WTI) rose 23 cents to $78.24. Both benchmarks ended the week lower on bearish Chinese data that signaled weaker demand in the world’s leading crude importer. Brent closed down 1.8 per cent, although the contract has remained above $80 a barrel for just over a month. Meanwhile, WTI ended 2.5 per...