Oil prices steadied in early Asian trade on Tuesday after falling on strong U.S. manufacturing data that raised worries about further interest rate hikes dampening demand, while analysts predicted another build in American crude inventories.
Brent crude futures for April , due to expire on Tuesday, lost 20 cents to $82.25 per barrel by 0137 GMT, extending a 0.9% loss in the previous session. The more active May contract picked up 4 cents to $82.08 per barrel.The threat of more U.S. rate increases following stronger-than-expected new orders for core U.S.-manufactured capital goods in January kept a lid on oil prices, while U.S.
"The stronger than expected inflation numbers raised concerns about further hikes in interest rates, which has already curbed demand in the U.S.," ANZ analysts said in a client note.
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