Oil steady after sell-off but oversupply still drags

Wed, 19 Dec 2018 - 09:26 GMT

Benchmark Brent crude oil was up 30 cents at $56.56 a barrel by 0840 GMT, after dropping 5.6 percent on Tuesday and at one point hitting a 14-month low.

Oil drops 2% on oversupply, equities sell-off

Tue, 18 Dec 2018 - 09:28 GMT

U.S. crude oil dropped $1.36 or 2.7 percent to a low of $48.52, its weakest since September 2017, before recovering to around $49.00 by 0840 GMT.