Oil Prices Steady as Rate Hikes Expected, Supply Tight

Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China, on Oct. 22, 2018. Aly Song/Reuters

LONDON—Oil prices were steady on Monday as traders expected more rate hikes from U.S. and European central banks, but tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel.

Brent crude futures rose 4 cents, to $81.11 a barrel by 0644 GMT. U.S. West Texas Intermediate (WTI) crude was at $77.11 a barrel, also up 4 cents.