SINGAPORE :Oil prices were steady on Thursday after U.S. 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.
"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. Oil prices were also little changed after data showed a build in U.S. crude inventories which was less than expected.
That was substantially short of forecasts for a 1 million barrel rise, though crude stocks are at their highest since June 2021, the EIA said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: