00:00All prices were a little changed on Wednesday as investors assessed trade developments between the European Union and the US after President Donald Trump reached a tariff deal.
00:11Brand crude futures settled 8 cents or 0.12% lower at $68.51 a barrel while US West Texas Intermediate crude futures were down 6 cents or 0.09% at $65.25 per barrel.
00:28Both benchmarks lost about 1% on Tuesday after the EU said it was considering a countermeasure against US tariff.
00:38On the supply side, US Energy Information Administration data showed US crude inventories fell last week by 3.2 million barrels to 419 million barrels compared with analyst expectations in a Reuters poll for 1.6 million barrel draw.
00:56US crude exports were up by 337,000 barrels per day to 3.86 million barrels per day while net US crude imports fell last week by 740,000 barrels per day, the EIA said.
01:12In another bullish sign for the crude market, the US Energy Secretary said on Tuesday that US would consider sanctioning Russian oil to end the war in Ukraine.
01:24The EU on Friday agreed its 18th sanctioned package against Russia, lowering the price cap for Russian crude.
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