<ul><li>Oil steadied after a modest decline on Tuesday as expectations for a glut, and the trade war between the world’s two biggest economies weighed on the demand outlook.</li><li>The International Energy Agency slashed its forecasts for global oil consumption this year and next as trade frictions rise.</li><li>The industry-funded American Petroleum Institute reported US nationwide crude inventories rose by 2.4 million barrels last week, which would be the third consecutive advance if confirmed by official data.</li><li>Crude remains near the lowest in four years, after a steep decline earlier this month brought about by an onslaught of tariffs and counter-levies between the US and its biggest trading partners.</li></ul>

Oil Steadies With Glut Expectations, Trade War Souring Outlook

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