Oil prices stabilized as fears of lower demand were offset by the prospect of raising U.S. interest rates to worry that a tropical storm off the U.S. Gulf coast could affect supplies.
Brent crude fell two years to $84.40 a barrel. WTI crude fell three cents to $80.07.
Investors await important data on the U.S. economy later this week that will help determine the trajectory of interest rates this year and next.
Federal Reserve Chairman Jerome Powell confirmed that the bank may have to raise interest rates further to calm inflation.
Source (Al-Arabiya.net Website, Edited)
