Oil prices held steady on Monday in choppy trading on fears that high inflation and energy costs could drag the global economy into recession. “U.S. inflation remains a front topic and with the Fed set to raise rates at least into next year, there are fears that demand destruction will escalate,” said Dennis Kissler, senior vice president of trading at BOK Financial. China will greatly increase domestic energy supply and reserve capacity and step up risk controls in key commodities including coal, oil, gas, and electricity, a senior National Energy Administration official said on Monday.WTI traded down $.15 or -.2% to close at $85.46. Brent traded down $.01 or -.01% to close at $91.62.<\/p>\n\n\n\n
Oil prices held steady on Monday in choppy trading on fears that high inflation and energy costs could drag the global economy into recession.<\/p>\n","protected":false},"author":2,"featured_media":6111,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-7715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n