Oil prices steady as output cut expectations offset coronavirus concern

LONDON: Oil prices were little changed on Monday as concerns over the economic fallout from the coronavirus outbreak in China were offset by hopes that potential output cuts from major producers could tighten crude supply.

Brent crude was at $57.23 a barrel, down 9 cents, by 1525 GMT after rising 5.2% last week, its biggest weekly gain since September 2019.