Oil steadied after rallying almost 8% in three days as investors weighed the risks of a supply disruption in the Middle East against concerns over the global economy and demand. Futures were little changed near $58/bl in New York. President Donald Trump imposed sanctions on Iran’s supreme leader, Ayatollah Ali Khamenei, on Monday, while also asking in a tweet why the US is protecting the Strait of Hormuz, the world’s most important oil choke-point. Iran said the US move has shut the path to a diplomatic solution.
