Oil edges up to $42, eyeing Libya and U.S. inventories

Brent crude was up 23 cents, or 0.6%, to $41.95 at 1035 GMT, reversing an earlier drop. U.S. West Texas Intermediate crude was up 16 cents, or 0.4%, at $39.96. Both contracts fell more than 4% on Monday, though they rose on Tuesday.