Oil prices were little changed on Thursday as markets weighed a rise in US gasoline and distillate inventories and worries about slower economic growth amid concerns of supply tightness.
Brent crude futures for August dropped 25 cents, or 0.2 per cent, to $116.01 a barrel in light trading as the August contract is set to expire on Thursday. The more-active September contract was at $112.18, down 27 cents, or 0.2 per cent.
US West Texas Intermediate (WTI) crude futures slid 19 cents, or 0.2 per cent, to $109.58 a barrel.
Both contracts slid about 2 per cent on Wednesday after The Energy Information Administration (EIA) said US crude inventories fell last week even as production hit its highest level since April 2020 during the first wave of the coronavirus pandemic.
