Oil parred gains on weak US factory data

International benchmarks for crude oil settled lower on Monday, 18 October 2021 after data showed that US factory output fell the most in seven months in September as the global semiconductor shortage hurt the auto industry. Such development further highlights the slow economic recovery progress. 

Brent shed 53 cents to close at $84.33/barrel.

WTI inched 16 cents higher to $82.44/barrel.