Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing economic growth and rising Middle East output would extend a global supply overhang. International Brent crude futures LCOc1 were trading at $44.95 per barrel at 12.45 a.m. ET, down 2 cents from their last settlement. U.S. West Texas Intermediate (WTI) futures were up 7 cents at $43.72 a barrel. This followed two trading sessions in which Brent fell nearly 7 percent and WTI nearly 5 percent from end-April levels, with crude pulled down by rising output from the Middle East and renewed signs of economic slowdown in Asia. “Asia’s big markets continue to disappoint: Japan sank further, China relapsed, and India slipped,” said Frederic Neumann of HSBC in Hong Kong, adding that exports were “stuck below […]