Oil steadies near lowest since early June as China concerns weigh

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Oil steadies near lowest since early June as China concerns weigh
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Brent crude rose by 8 cents, or 0.1%, to $79.86 a barrel by 0805 GMT. It fell intraday to $79.34, the lowest since June 10. U.S. crude was down 12 cents, or 0.2%, at $75.69

Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy measures for the economy and the prospect of lower U.S. crude and product inventories.

. Even as Chinese leaders vowed to step up support for the economy, expectations on the extent of such measures have been limited since the Third Plenum, a policy meeting in mid-July, largely reiterated existing economic policy goals. Oil fell 2% in the previous session after Israel signalled that its response to a rocket strike in Israeli-occupied Golan Heights on Saturday would be calculated to avoid dragging the Middle East into an all-out war.

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