Oil prices steady after sharp declines on weak U.S. demand

Oil prices were roughly unchanged in early trading on Friday after sliding around 3% in the previous session on weakened demand in the United States, the world’s top oil consumer, and a pick-up in supply from Libya.

Brent crude futures rose 17 cents, or 0.2%, to $104.03 a barrel at 0041 GMT, while U.S. West Texas Intermediate (WTI) crude futures were flat at $96.35 a barrel.