Oil steadied after a volatile session on Tuesday, pausing a rally that has brought prices to multi-year highs and raised concerns that higher energy costs could derail the global economic recovery. Brent crude fell 23 cents to settle at $83.42 a barrel, after trading from a high of $84.23 to a low of $82.72. On Monday, the global benchmark hit $84.60, its highest since October 2018. U.S. West Texas Intermediate crude futures (WTI) ended 12 cents higher at $80.64 a barrel, after ranging between $81.62 and $79.47. Brent has risen for five consecutive weeks, while WTI has notched seven straight weeks of gains. Both contracts have risen by more than 15% since the start of September. Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, roiling global stock and bond markets on worries that rising energy costs will stoke inflation. Power prices have surged to record highs in recent weeks, driven by shortages in Asia and Europe, with an energy crisis in China expected to last through year end, crimping growth in the world's second-largest economy and top exporter. The price of Brent has surged by more than 60% this year. As well as OPEC+ supply restraint, the rally has been spurred by record European gas prices, which have encouraged a switch to oil for power generation in some places.