25.09.202309:51:00UTC+00Oil Prices Give Up Early Gains With China Concerns In Focus

Oil prices were little changed on Monday as a stronger dollar, growing fears of a U.S. government shutdown and fresh concerns about the health of China's property sector offset investor optimism about a tighter supply outlook.

Benchmark Brent crude futures were marginally higher at $91.96, giving up earlier gains. WTI crude oil futures were up 0.1 percent at $90.08.

The dollar hit new multi-month highs against a basket of major world currencies following hawkish comments on interest rates from the Federal Reserve and other central banks.

Markets braced for a U.S. government shutdown, with the White House warning of severe economic consequences if Congress fails to pass a funding bill by an October 1 deadline.

Concerns about China's property market returned to the fore after China Evergrande Group, the world's most indebted property developer, said it was unable to issue new debt due to an ongoing investigation into its main domestic subsidiary, Hengda Real Estate Group Co.