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
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Ammon
3 hours ago
- Ammon
Trump to keep Starlink at White House
Ammon News - President Donald Trump said on Monday he has no plans to discontinue Starlink at the White House but might move his Tesla off-site, following his announcement over the weekend that his relationship with Elon Musk, the billionaire CEO of both companies, was over. "I may move the Tesla around a little bit, but I don't think we'll be doing that with Starlink. It's a good service," Trump told reporters, referring to the satellite internet company that provides high-speed broadband access. It is a unit of Musk's SpaceX. In March, Trump said he had purchased a red Tesla Model S from Musk, Trump's then-close ally. Last week, a White House official said Trump might get rid of it after a public feud erupted between the two men. The Tesla was seen parked at the White House over the weekend. On Saturday, Trump said he had no intention of repairing ties with Musk. On Monday, the president said he would not have a problem if Musk called. "We had a good relationship, and I just wish him well," Trump said. Musk responded with a heart emoji to a video on X showing Trump's remarks. Last week, Trump and Musk exchanged a flurry of insults after the world's richest man denounced Trump's tax and spending bill as a "disgusting abomination." Musk's opposition has complicated Republican efforts to pass Trump's "big, beautiful bill" in Congress, where the party holds slim majorities in the House of Representatives and Senate. Since the dispute began last Thursday, Musk has deleted some social media posts critical of Trump, including one signaling support for impeaching the president. Sources close to Musk said his anger has started to subside, and they believe he may want to repair his relationship with Trump. Reuters
Jordan News
21 hours ago
- Jordan News
Oil Prices Steady Ahead of U.S.-China Trade Talks - Jordan News
Oil prices held steady during trading on Monday, amid anticipation of upcoming trade talks between China and the United States. Brent crude futures remained unchanged at $66.40 per barrel, while U.S. crude futures also stabilized at $64.53 per barrel, according to CNBC. اضافة اعلان Three senior aides to Donald Trump are scheduled to meet with their Chinese counterparts in London on Monday in the first meeting of the U.S.-China Economic and Trade Consultation Mechanism. — (Petra)
Roya News
5 days ago
- Roya News
Lebanon says army dismantled over 500 Hezbollah positions in south
Lebanon's Prime Minister Nawaf Salam announced Thursday that the Lebanese army has dismantled more than 500 Hezbollah military positions and weapons storage sites in the country's south, as part of a broader push to reassert state authority and fulfill international reform demands. Speaking in a televised address marking his first 100 days in office, Salam reaffirmed his government's commitment to strengthening state control and disarming armed groups operating outside its authority. "The state continues its action... to restore its authority over the entire national territory... and to have a monopoly on arms," Salam said. According to the prime minister, the army has been actively expanding its presence in southern Lebanon, specifically in areas south of the Litani River, located roughly 30km from the "Israeli" border. That region has been a traditional Hezbollah stronghold. The dismantling of Hezbollah's infrastructure is in line with a ceasefire deal brokered in November that ended a conflict between Hezbollah and "Israel". The agreement required Hezbollah to pull out of the area and remove its military assets. While Hezbollah appears to be complying, Salam noted that "Israel" has not fully upheld its end of the deal. "There can be no security or stability while Israel's daily violations persist, parts of our land remain occupied and our prisoners are not freed," he said. Salam also addressed plans to disarm Palestinian refugee camps in the country, which have long operated autonomously and are often outside the reach of the Lebanese state. Turning to Lebanon's economic woes, the prime minister defended his government's recovery blueprint, which he said is rooted in practical reforms and accountability. "Our economic plan is not a fantasy," Salam stated, emphasizing that it focuses on correcting historical financial mismanagement and rebuilding the country's broken banking system.
