Oil steady as positive Chinese signals counter recession fears

HOUSTON: Oil prices held steady on Monday in choppy trading as China’s continuation of loose monetary policy offset fears that high inflation and energy costs could drag the global economy into recession.

Brent crude futures were down 2 cents, or 0.02 percent, to $91.67 a barrel by 11:37 a.m. EDT (1537 GMT), recovering from a 6.4 percent fall last week. U.S. West Texas Intermediate crude was up 4 cents, or 0.4 percent, at $85.57 after a 7.6 percent decline last week.