Brent stable as market juggles inflation woes with supply fears

Oil prices were stable on Tuesday as the market balanced supply concerns with fears that an inflation-induced weakening of global economies would soften fuel demand, Reuters reported.
Brent crude futures for October settlement fell 9 cents, or 0.09%, to $105 a barrel by 0841 GMT, after climbing 4.1% on Monday, the biggest increase in more than a month.
The October contract expires on Wednesday and the more active November contract was at $103.03a barrel, up 0.1%.
U.S. West Texas Intermediate crude was at $97.18 a barrel, up 17 cents, or 0.18%, following a 4.2% rise in the previous session.
Inflation is near double-digit territory in many of the world’s biggest economies, a level not seen in close to a half century. This could prompt central banks in the United States and Europe to resort to more aggressive interest rate hikes that could curtail economic growth and weigh on fuel demand. read more
The price fall was capped by the prospect of tighter supplies.