Ecology Action Centre calls for immediate implementation of Coastal Protection Act | SaltWireSINGAPORE - Oil prices were little changed on Thursday as the market weighed mixed drivers, eyeing tensions in the Middle East while digesting a rise in U.S. crude stockpiles.
The benchmark oil contracts have settled nearly 2% higher on Wednesday, buoyed by persisting worries about the Middle East conflict. U.S. crude inventories climbed by 1.4 million barrels in the latest week to 421.1 million barrels, according to the Energy Information Administration, exceeding a 240,000-barrel gain expected by analysts from a Reuters poll.
Refinery crude runs in the U.S. fell by 207,000 barrels per day, while refinery utilisation rates also edged lower by 0.5 percentage point to 85.6% of total capacity, showed EIA data.
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