Oil prices steady after five days of declines, sentiment bearish

By Henning Gloystein SINGAPORE (Reuters) - Oil prices edged up on Friday, stabilising after five straight days of falls triggered by a surge in U.S. crude inventories and doubts over the ability of producers to coordinate output cuts. Brent crude futures were up 16 cents, or 0.35 percent, at $46.51 per barrel at 1220 GMT. U.S. West Texas Intermediate (WTI) futures rose 17 cents, or 0.4 percent, to $44.83.