German, UK, EU economic data could spell weaker oil demand
IsraelHamas conflict in focus amid diplomatic efforts
API U.S. crude inventory data due 2030 GMT

LONDON, Oct 24 Reuters Oil prices were broadly stable on Tuesday following the previous session39;s dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.

Brent crude futures were up 9 cents, or 0.1, at 89.92 a barrel by 0847 GMT, while U.S. West Texas Intermediate crude futures inched up 4 cents, or 0.05, to 85.53 a barrel.

Euro zone business activity took a surprise turn for the worse this month, data showed on Wednesday, suggesting the bloc may slip into recession.

German readings suggested a recession in the country is well underway, while Britain39;s businesses reported another decline in activity this month, underlining the risk of recession ahead of the Bank of England39;s interest rate decision next week.

Both oil benchmarks fell more than 2 on Monday as diplomatic efforts in the Middle East, the world39;s biggest oilsupplying region, intensified to contain the conflict between Israel and Hamas.

Hamas on Monday said it had freed two Israeli women, while sources said the U.S. had advised Israel to hold off on a ground assault in the Gaza Strip.

PVM analyst John Evans said the disturbing truth is that without further conflict oils rally is transient, or at least the rally involving the latest Middle East nightmare….