Oil steady at $108 ahead of EU summit - Reuters

LONDON (Reuters) - Oil prices held steady at around $108 on Thursday supported by tight supply although Europe's failure to agree a plan to resolve the euro zone's debt crisis continued to stalk the market.

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French President Nicolas Sarkozy flew to Frankfurt to talk with German Chancellor Angela Merkel to try to break a deadlock ahead of a crucial EU summit this weekend. European equities, metals and commodity currencies fell on the uncertainty, the euro lost ground against the dollar, and oil erased gains made last week on rescue deal optimism.

Oil steady at $108 ahead of EU summit - Reuters