Oil Prices Steady Amid Mixed Signals on Middle East Recovery

Oil prices have steadied after a gain in the previous session as traders weigh the likelihood of sustained recovery in Middle East flows. Brent crude for December delivery is trading near $98 a barrel, following a 1.9% advance on Wednesday. West Texas Intermediate (WTI) is around $90.

Wall Street analysts and traders said that crude flows from the Middle East are closing in on pre-war levels. However, supplies of fuels have failed to recover to the same extent.