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Oil prices little changed as expectations for OPEC+ increase weigh

Oil prices little changed as expectations for OPEC+ increase weigh

Ammon19 hours ago
Ammon News - Oil futures were little changed on Wednesday as markets weighed expectations from more supply from major producers next month, a softer U.S. dollar and a mixed bag of economic and market indicators from the U.S., the world's largest oil consumer.
Brent crude was up 2 cents at $67.13 a barrel at 0345 GMT, while U.S. West Texas Intermediate crude fell 1 cent to $65.44 a barrel.
Brent has traded between a high of $69.05 a barrel and low of $66.34 since June 25, as concerns of supply disruptions in the Middle East producing region have ebbed following the ceasefire between Iran and Israel.
Also weighing on prices, sources said American Petroleum Institute data late on Tuesday showed U.S. crude oil inventories rose by 680,000 barrels in the past week at a time when stockpiles typically draw amid the summer demand season.
The market is already seeing the results of the previous OPEC+ increases with Saudi Arabia, the world's biggest oil exporter, lifting shipments in June by 450,000 bpd from May, according to data from Kpler, its highest in more than a year. Reuters
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