Oil Steady in Early Asian Trade as Markets Weigh Supply Risks and Fed Outlook

Oil prices held steady in early Asian trading, with sentiment caught between concerns over a potential supply glut and stalled Ukraine–Russia peace negotiations, UOB’s Global Economics & Market Research team noted.

Expectations of an upcoming Federal Reserve rate cut are offering some support, according to analysts at Commonwealth Bank of Australia, who said easier monetary policy could boost economic activity and energy demand.

Front-month WTI traded flat at $60.11/bbl, while Brent was unchanged at $63.77/bbl.