Futures Movers: Oil steady as China moves to bolster stock market

Oil futures were trading near unchanged early Monday as investors assessed China’s latest efforts to bolster its lagging economy, while also monitoring the potential threat posed by Tropical Storm Idalia to Gulf Coast crude and gas output.

Price action

Market drivers

Oil futures were lifted in Asian trading hours after China’s Finance Ministry and the country’s stock market regulator introduced measures aimed at sparking buying interest in stocks, such as a halving of a tax on stock trades and limiting sales…