Brent crude rose 20 cents to $86.86 a barrel by 1110 GMT, while U.S. West Texas Intermediate crude added 8 cents to $79.76
Oil steadied on Monday as looming interest rate hikes by major central banks and signs of strong Russian exports balanced rising Middle East tension over a drone attack in Iran and hopes of higher Chinese demand.
Brent crude rose 20 cents, or 0.2 per cent, to $86.86 a barrel by 1110 GMT while U.S. West Texas Intermediate crude added 8 cents, or 0.1 per cent, to $79.76. Besides the central bank meetings, a gathering on Wednesday of key ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, will also be in focus.
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