Brent for May settlement fell 0.1% to $86.69 a barrel at 12:22 p.m. in Singapore.
Oil steadied after the biggest gain in a week, with OPEC+ set to affirm its policy of production cuts amid tensions in the Middle East and Russia.
Crude has risen almost 13% so far this quarter after breaking out of a tight range that it was in for the first couple of months. Attacks by Ukraine on Russian refineries have aided gains, together with signs of strength in some product markets including gasoline. The positive overall market outlook has spurred hedge funds to increase their bullish bets on Brent.
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