Crude oil prices held steady on Monday

Crude oil prices held mostly steady in Monday’s trading, thanks largely to stronger hopes there wll be higher demand because of increased factory activity in China.

 But those high hopes were also offset after word was made known that the U.S. Federal Reserve does not plan to cut interest rates again at its meeting this month. According to Reuters, a  private sector survey showed China’s factory activity expanded in November at the fastest pace in five months.

West Texas Intermediate crude, considered the U.S. benchmark, gained 10 cents or 0.15% to close at $68.10 per barrel on the New York Mercantile Exchange.

Global standard Brent crude finished the day down 1 cent at $71.83 a barrel.

Natural gas was down 15 cents or 4.55% at $3.21.

More Oklahoma energy stocks recorded losses than those with gains. While Empire Petroleum gained 4%,  Williams Companies experienced a loss of 4% and ONEOK and Ovintiv Inc. lost 3%.