Oil prices remained steady this morning after Moody’s Investors Service placed the US credit rating under review for a downgrade.

US crude for August climbed 2¢ to stand at $98.07, while Brent crude gained 12¢ to $118.90 a barrel, reports Reuters.

Moody’s warned that the US may lose its top credit rating over the next few weeks, which put pressure on the federal government to lift its debt ceiling.