Oil price steadies after two days of gains

LONDON, Jan 31 (Reuters): Oil prices steadied after two days of gains on Thursday, as lower-than-expected US fuel stock rises and US sanctions on Venezuelan output boosted investor confidence but US-China trade tensions weighed on sentiment.

US West Texas Intermediate (WTI) crude futures were down 9.0 cents at $54.14 per barrel at 0955 GMT.

Brent crude oil futures were up 14 cents at $61.79 per barrel. The March contract expires on Thursday.

Data from the US Energy Information Administration (EIA) on Wednesday showed US crude oil stockpiles rose less than expected last week due to lower imports, notably a fall in Saudi crude supply.

"Crude oil prices were stronger after signs emerged that OPEC cuts are impacting trade," ANZ bank analysts wrote in a note, calling it the second lowest weekly level since 2010.