Oil prices hold steady on strong China demand, ahead of producer meeting

International benchmark Brent crude futures managed to defend $40 per barrel in early trading on Tuesday, standing at $40.51 at 0154 GMT, down 33 cents from their last settlement. On Monday, the contract had surged over 5.5 percent in intra-day trading and remains 50 percent above 2016 lows from Jan. 20

SINGAPORE: Oil prices were stable on Tuesday, with U.S. crude futures holding above $40 per barrel and Brent approaching $43 ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply.