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There was little change in oil prices on Wednesday, after two consecutive days of losses, as the stalemate in ceasefire talks in Gaza led to renewed uncertainty about the security of supplies from the Middle East, which offset a larger-than-expected increase in US crude.
By 03:30 GMT, Brent crude futures rose slightly to $89.49 a barrel, while US West Texas Intermediate crude futures rose eight cents to $85.31.
The prices of the two standard crude oils remained lower by about 1.8% than the end of last week, despite the geopolitical tensions in the Middle East resulting from the possibility of the Zionist entity’s war on the Gaza Strip continuing for a longer period, and attracting more countries.
Official US government inventory data is scheduled to be released at 1430 GMT.