Oil steady as market awaits more supply clarity
Oil prices were steady on Thursday after US crude stocks climbed less than expected, while investors awaited further clarity on supply drivers, including an OPEC+ meeting and the looming EU ban on Russian refined products.
Brent crude futures dipped 4 cents, or 0.1 per cent, to $86.08 per barrel by 0400 GMT, while US West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.2 per cent, to $80.33.
“The market awaits to get more clarity on the upcoming EU embargo on Russian refined products and the subsequent reshuffle of trade flows, while OPEC+ delegates head into their next meeting,” Citi analysts said in a note Thursday.
