Oil Steadies as Traders Track Risk-On Tone and Storm Francine.

Oil prices held steady after a one-day gain, as a risk-on tone returned to wider financial markets. Brent traded below $72 a barrel after rising more than 1% on Monday, while West Texas Intermediate was near $68. The market's cautious tone was influenced by concerns about restrained demand in major economies and abundant supply, as well as the potential disruption of supplies due to Tropical Storm Francine in the Gulf of Mexico. Experts at the Asia Pacific Petroleum Conference in Singapore expressed caution about the market outlook, with some predicting that Brent could slip into the $60s soon. [Extracted from the article]