Oil prices little changed as surprise US inventory builds cap gains
Ammon News - Oil prices were little changed on Thursday as investors stayed cautious, focusing on renewed Iran-U.S. nuclear talks, though unexpected builds in U.S. crude and fuel inventories raised concerns about demand from the world's largest oil consumer.
Brent futures inched up 4 cents to $64.95 a barrel by 0456 GMT, while U.S. West Texas Intermediate crude gained 10 cents to $61.67.
Both benchmarks fell earlier in the session after U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline and distillate demand slipped.
Both benchmarks lost 0.7% on Wednesday after Oman's foreign minister said the fifth round of nuclear talks between Iran and the United States will take place on Friday in Rome.
Prices had jumped earlier on Wednesday following a CNN report that U.S. intelligence suggests Israel is preparing to strike Iranian nuclear facilities, although it was not clear whether Israeli leaders have made a final decision.
Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset supply from the country. Reuters
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