Oil steadies after sell-off but oversupply still drags | Reuters:
Oil stabilized on Wednesday after one of its biggest falls in years, but remained under pressure from oversupply and concern that a slowing global economy would depress demand.
Benchmark Brent crude oil was up 45 cents at $56.71 a barrel by 1215 GMT, after dropping 5.6 percent on Tuesday and at one point hitting a 14-month low.
U.S. light crude was 35 cents higher at $46.59, after plunging 7.3 percent in the previous session when it touched its lowest since August 2017.
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