Brent crude steadies just under $60/bbl, China oil demand in focus - Reuters:
Oil futures steadied somewhat on Tuesday after a five-day losing streak as OPEC sources said the group and its allies might tighten the market amid fears that the coronavirus, which has claimed over 100 lives in China, could weigh on oil demand.
Brent crude LCOc1, which oscillated between positive and negative territory during European trading, was down 20 cents at $59.12 a barrel at 1416 GMT, having hit a three-month low of $58.50 on Monday. [MKTS/GLOB]
U.S. West Texas Intermediate CLc1 rose 7 cents to $53.21 a barrel, after slipping to its lowest since early October in the previous session. Both contracts are still on track for their worst monthly falls since May.
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