Various underlying oil market gauges are also pointing to a strengthening market. : Oil held steady near the highest close since 2018, with the global energy crunch set to increase demand for crude as stockpiles fall from the US to China. Futures in London headed for a third weekly gain. Global onshore crude stocks sank by almost 21 million barrels last week, led by China, according to data analytics firm Kayrros, while US inventories are near a three-year low.