Oil steadies

Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of global economic slowdown.

Brent crude futures edged up 29 cents to $76.94 a barrel by 0838 GMT after a 0.5 per cent gain the previous day.

US West Texas Intermediate crude firmed by 37 cents to $72.16 after rising by 2.9 per cent in post-holiday trade on Wednesday to catch up with Brent's gains earlier in the week.