Oil markets steady as investors weigh banking crisis

Oil prices stabilised in Asian trade on Monday as investors sought cues from broader financial markets, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe, News.Az reports citing Reuters.  

Brent crude futures held unchanged at $74.99 a barrel at 0357 GMT after hitting a session high of $75.64. U.S. West Texas Intermediate crude was at $69.29 a barrel, up 3 cents, after rising to $69.92 earlier in the session. 

Brent rose 2.8% last week, while WTI rebounded 3.8% as jitters in the banking sector eased.


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