Stability of oil prices after decline last week

Oil prices were little changed in early Asian trading on Monday, after falling $2 a barrel at the close on Friday, as rising supplies in the United States and expectations of higher interest rates dampened optimism about a recovery in demand in China.

Brent crude fell nine cents, or 0.1 percent, to $82.91 a barrel by 0051 GMT.

The price of US West Texas Intermediate crude for the month of March was $76.40 a barrel, up six cents. April contracts fell nine cents to $76.46.

Brent and West Texas crude fell at the close last week by about four percent after the United States announced an increase in crude oil and gasoline stocks.

Washington also announced plans to withdraw 26 million barrels of crude oil from the Strategic Petroleum Reserve, which could lead to a build-up of inventories at Cushing, Oklahoma, the delivery point for WTI contracts through May, Energy Aspects analysts said in a note.