Oil prices stabilise after massive drop

Oil prices were broadly steady on Thursday as the market weighed tight supply against fears of a demand slowdown, after a build in US crude and gasoline stocks sent prices to multi-month lows in the previous session.

Brent crude futures were down 3 cents to $96.75 a barrel by 1200 GMT, while West Texas Intermediate (WTI) crude futures were up 40 cents, a 0.44 per cent gain, at $91.06.

Both benchmarks fell on Wednesday to their weakest levels since before Russia's February 24 invasion of UKraine, that Moscow calls "a special operation".