Oil steady as market monitors Red Sea developments – Markets

SINGAPORE: Oil prices were little changed on Wednesday as investors monitored Red Sea developments, with some major shippers resuming passage through the area despite continued attacks and broader Middle East tensions.

Brent crude futures dipped 5 cents, or 0.1%, at $81.02 a barrel by 0415 GMT, while US West Texas Intermediate crude edged down 12 cents, or 0.2%, at $75.45 a barrel.

The…