Oil Steady as US Default Risk Offsets Demand Outlook

Oil Steady as US Default Risk Offsets Demand Outlook
A petrol station attendant prepares to refuel a car in Rome, Italy on Jan. 4, 2012. Max Rossi/Reuters
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LONDON—Oil prices were steady on Monday as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers.

Brent crude futures rose 13 cents, or 0.2 percent, to $75.71 a barrel by 0850 GMT, while U.S. West Texas Intermediate (WTI) crude for July delivery, the more actively traded contract, rose 12, or 0.20 percent, to $71.81.