Oil prices were little changed on Wednesday, holding on to Tuesday’s gains on a robust demand growth forecast from OPEC and a sharp decline in US fuel stocks.
Brent crude futures rose 6 cents, or 0.07%, to $82.83 a barrel by 0953 GMT. US West Texas Intermediate (WTI) crude futures were flat at $77.87.
Geopolitical factors were also partly responsible for gains of about 1% on Tuesday, with diplomatic deadlocks in the Middle East and Russia-Ukraine conflicts offsetting expectations of a deferred start to interest rate cuts in the United States.
