Oil held steady as traders weighed recession fear against China’s loosening monetary policies

International benchmarks for crude oil ended the trading session on Monday, 17 October 2022 with little changes as traders took a step back to assess the impact of China’s continuation of loose monetary policy after the PBOC rollover key interest rates from the previous month. Meanwhile, fears of a global recession linger but investors are searching for bullish factors to support the market.

Brent inched just 1 cent lower to close at $91.62/barrel.

WTI dropped 15 cents to close at $85.46/barrel.