LONDON - Oil steadied above $56 a barrel on Tuesday after two days of declines as OPEC output cuts and Libyan supply losses balanced concerns about the spread of the coronavirus and its impact on oil demand.
Brent crude rose 5 cents to $56.35 a barrel by 0952 GMT. U.S. West Texas Intermediate crude was down 14 cents at $51.29. Prices received further support as lawmakers based in areas of eastern Libya controlled by military commander Khalifa Haftar on Monday said that they would not participate for now in peace talks with politicians allied to the internationally recognized government.
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