Oil Wavers on Weak Demand Outlook in US and China, Fed Hedging

Oil pours out of a spout from the original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pa., on Oct. 5, 2017. Brendan McDermid/Reuters

LONDON—Oil prices wavered on Monday, as renewed concerns over waning demand in the United States and China, coupled with mixed signals from the U.S. Federal Reserve, kept markets uncertain.

Brent crude futures for January were down 8 cents at $81.35 a barrel at 0916 GMT, after losing $1 in earlier trading, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $77.11, down 6 cents.