Oil steady

Oil prices were largely steady on Monday as a relatively tight global supply picture competed with fears of a recession and a rising dollar.

Brent crude futures for October settlement fell 34 cents, or 0.3 per cent, to $96.38 a barrel by 1105 GMT.

US West Texas Intermediate (WTI) crude for September delivery - due to expire on Monday - was down 42 cents, or 0.4 per cent, at $90.35. The more active October contract was down 27 cents, or 0.3 per cent, at $90.17.