Oil steadies after 5 days of declines - May. 7, 2007
Market shrugs off news of continued violence against Nigeria's oil industry, as well as report showing low U.S. gasoline stockpiles.
SYDNEY (Reuters) -- Oil held steady on Monday after a week-long retreat after rising U.S. crude stocks alleviated fears of a shortfall in the world's top energy consumer and some commodity investors shifted their focus to metal markets.
U.S. crude for June delivery was up 3 cents at $61.96 a barrel after a 2 percent slide on Friday.
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