Oil steady after surprise rise in US gasoline stocks

-Oil prices were little changed on Wednesday, pressured by a large surprise build in U.S. gasoline stocks and worries about U.S. interest rate cuts next year, but prices drew support from concerns about supply eased after a ceasefire deal between Israel and Hezbollah.U.S. gasoline stocks rose by 3.3 million barrels in the week to 212.2 million barrels, the Energy Information Administration said, counter to analysts' expectations in a Reuters poll for a draw of 46,000 barrels.

"It is surprising to see gasoline inventories building so much and implied demand not really budging week-on-week, given expected record travel this Thanksgiving," said Matt Smith, an analyst at Kpler. Oil gained support after sources from the OPEC+ group, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, said it is discussing a further delay to the oil output increase set for January.

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Crude Oil gives back part of Monday’s gains with US Oil market in tipping pointCrude Oil price slides lower on Tuesday after a key gauge on the US Crude market signaling a substantial glut taking place for the first time in nine months. The spread in price between Oil futures contracts for immediate deliveries against those a
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