Oil prices remained steady at almost $76 a barrel today.

For August delivery, US crude fell 12¢ to stand at $75.89 a barrel at 06.42 GMT, while London Brent crude lost 11¢ to $75.26 a barrel, according to Reuters.

Oil fell after US data showed that consumer prices dropped for the third straight month in June and consumer sentiment fell to a near one-year low.

China closed the Dalian Xingang oil port, the country’s largest oil reserve base, after crude pipeline explosions spilled oil into the sea.

Meanwhile, BP detected seepage on the ocean floor signalling there could be problems with the cap plugging the ruptured Macondo well.