Oil steady after U.S. Capitol drama; tighter supplies in focus

TOKYO (Reuters) – Oil prices were steady on Thursday after supporters of President Donald Trump stormed the U.S. Capitol, with investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output.

Brent crude was up 8 cents at $54.38 a barrel by 0125 GMT, after gaining 1.3% overnight. U.S. West Texas Intermediate (WTI) gained 11 cents to $50.74, having slipped earlier in the Asian session. The contract rose 1.4% on Wednesday.

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