Oil little changed after US crude inventory build
Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles pressured the market.
Brent futures were up 34 cents, or 0.5%, at $76.38 a barrel by 1407 GMT. U.S. West Texas Intermediate crude rose 26 cents, or 0.4%, to $72.51.
U.S. crude stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures on Wednesday.
A resumption of the Iraqi oil flows would add 300,000 barrels of supply per day onto the market, ING analysts said.
Import tariffs announced by U.S. President Donald Trump's administration could dent oil prices by raising the cost of consumer goods, analysts said, weakening the global economy and reducing fuel demand. Concerns about European and Chinese demand were also helping keep prices in check.
Source: Reuters
