SINGAPORE : Oil prices were little changed in early Asia trade on Thursday as investors weighed demand concerns over a global economic slowdown against an expected fall in supply from Saudi output cuts.Brent crude futures dipped 1 cent at $76.94 a barrel at 0110 GMT, while the U.S. West Texas Intermediate
SINGAPORE : Oil prices were little changed in early Asia trade on Thursday as investors weighed demand concerns over a global economic slowdown against an expected fall in supply from Saudi output cuts.
Both benchmarks settled up by about 1 per cent on Wednesday, supported by Saudi Arabia's plans for deep output cuts, though price gains remain capped by rising U.S. fuel stocks and weak Chinese export data. "Both OPEC and IEA forecasts have had an air of wishful thinking about accelerating demand growth by year-end," the analysts added.
Gasoline inventories climbed by 2.7 million barrels in the week, the EIA said, higher than analyst expectations for a 880,000 barrel rise.
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