Oil edged up from multi-month lows on Thursday, but prices remained under pressure from a supply glut that has persisted despite OPEC-led efforts to balance the market.
Brent crude futures were up 40 cents at $45.22 a barrel at 1017 GMT, after falling as low as $44.53 earlier in the day. They fell 2.6 percent in the previous session to $44.35, their lowest since November.
U.S. crude futures were up 29 cents at $42.82 a barrel, after also slipping earlier in the day. On Wednesday, they touched $42.05, their lowest intraday level since August 2016.
Oil Steadies, But For How Long?
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Craig Erlam
His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.
Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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