SINGAPORE, Dec 10 (Reuters) – Oil prices held steady on Wednesday after falling about 1% in the previous session, as concerns over ‍supply outpacing demand capped gains and investors watched for progress in Russia-Ukraine peace talks.

Brent crude futures were up 11 cents, or 0.2%, to $62.05 a barrel at 0241 GMT. U.S. West Texas Intermediate crude was ‌at $58.38 a barrel, up 13 cents, ‌or 0.2%.

While the oil market is moving deeper into an expected glut, Russian supply remains a risk, ING analysts said in a note.

“While Russian seaborne export volumes are holding up well, these barrels are struggling to find buyers,” ING said, adding ‍that Russian oil output will start to fall if buyers are not found.

Ukrainian President Volodymyr Zelenskiy said his country ‍and its European partners wi

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