Oil prices stabilize, but supply glut concerns weigh on sentiment | Reuters

Oil prices stabilize, but supply glut concerns weigh on sentiment | Reuters:



Oil prices stabilized on Thursday, reversing earlier declines, but market sentiment remained cautious over concerns that a supply glut may emerge amid a glum economic outlook.

Front-month Brent crude oil futures were trading at $66.17 per barrel at 0737 GMT, up 5 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $56.29 a barrel, up 4 cents from their last settlement.