KONTAN.CO.ID - LONDON. Oil prices steadied on Friday, setting them on course for little change on the week, as a planned European Union ban on Russian oil balanced demand concerns over slowing economic growth. Brent futures for July were down 18 cents, or 0.2%, to $112.22 a barrel by 1235 GMT, while U.S. West Texas Intermediate (WTI) crude for June fell 2 cents to $112.19 on its last day as the front-month. The more actively traded WTI contract for July was down 14 cents at $109.75 a barrel.
The International Monetary Fund urged Asian economies to be mindful of spillover risks from monetary tightening, with IMF Deputy Managing Director Kenji Okamura saying they faced a choice between supporting growth with more stimulus and withdrawing it to stabilise debt and inflation. While Bank of Japan policy runs counter to a global shift towards monetary tightening, central banks in the United States, Britain and Australia raised interest rates recently. Baca Juga: Harga Minyak Rebound dari Penurunan 2 Hari, Brent ke US$112,04 dan WTI ke US$112,21 Despite higher fuel prices, however, Americans were getting back behind the wheel, according to a report from the Federal Highway Administration on vehicle miles. "There are just so many forces at play at the minute and the increased economic gloom this week and Chinese reopening progress has only added to that," said Craig Erlam, a senior market analyst at OANDA.