Washington has not ruled out export curbs to ease fuel prices
Beijing ramps up COVID quarantine
German minister expects EU embargo on Russian oil 39;in days39;
API shows U.S. crude inventories rise market sources
POLLU.S. crude, gasoline stockpiles seen down, distillates up
NEW YORK, May 24 Reuters Oil prices steadied on Tuesday after choppy trade as tight supply worries offset concerns over a possible recession and China39;s COVID19 curbs.
Prices turned negative after U.S. Energy Secretary Jennifer Granholm said President Joe Biden had not ruled out using export restrictions to ease soaring domestic fuel prices.
Initially the assumption is that is going to reduce the prices for products in the United States, said Phil Flynn, an analyst at Price Futures Group.
Brent crude rose 14 cents to settle at 113.56 a barrel. U.S. West Texas Intermediate WTI crude fell 52 cents to settle at 109.77 a barrel.
Oil has surged this year with Brent hitting 139 in March, the highest since 2008, after Russia39;s invasion of Ukraine exacerbated supply concerns.
Prices were supported earlier in the session as the European Union moved closer to agreeing to a ban on Russian oil imports. Such an embargo is likely to be agreed to within days, Germany39;s economy minister said on Monday.
Travel during the upcoming U.S. Memorial Day weekend is expected to be the busiest in two years as more drivers hit the road and shake off coronavirus lockdowns despite high pump prices.
U.S. crude…