Oil steady as Middle East worries offset US crude stock buildup
Written by Black Hot Fire Network on April 10, 2024
(Reuters) -Oil prices were little changed on Wednesday after two straight days of losses, as the deadlock in Gaza ceasefire talks renewed uncertainty about the security of supplies from the Middle East, offsetting a bigger-than-expected build in U.S. crude inventories.
Brent crude futures were up marginally at $89.49 per barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 8 cents to $85.31.
Prices for both benchmarks remain down around 1.8% on the end of last week despite geopolitical tensions in the Middle East triggered . . .
