Oil prices hover near 3-week highs

INA-sources
 
Oil prices were broadly steady on Tuesday, hovering close to three-week highs on heightened Middle East tensions and recovering China demand.
Brent futures ticked down 11 cents to $83.45 a barrel by 0413 GMT.
U.S. West Texas Intermediate (WTI) crude for April delivery inched down 11 cents to $78.35 a barrel. The March WTI contract rose 36 cents to $79.55 a barrel as traders prepared for that contract to expire during the day. There was no settlement for WTI on Monday due to a U.S. public holiday.
Crude markets were "marginally lower" in "quiet trading over the Presidents' Day 
However, the price-supportive factors did not completely offset demand worries. A bearish International Energy Agency (IEA) report last week revised the 2024 oil demand growth forecast downward on expectations that renewable energy would supplant fossil fuel usage.
 
Source: Reuters