Brent crude futures were up 11 cents to $88.18 a barrel at 0948 GMT, while U.S. West Texas Intermediate crude futures slipped five cents to $83.69
Oil benchmark Brent held above $88 on Wednesday as concerns about war escalating in the Middle East offset demand worries stemming from gloomy economic prospects in Europe.
Meanwhile, U.S. and Saudi Arabia leaders on Tuesday discussed efforts to prevent the conflict from widening to potentially include major oil producer Iran. Growth indicators from industrial output data to PMI and sentiment readings in recent weeks are all suggesting that the euro zone’s economy is now either stagnating or even shrinking as weak external demand, consumer caution and high interest rates take their toll.
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