Crude oil prices were treading water early Wednesday after an overnight bump faded ahead of an update on U.S. inventories, as well as the U.S. June inflation report that could impact markets more broadly.
West Texas Intermediate crude for August delivery gained 11 cents, or 0.1%, to $74.95 per barrel on the New York Mercantile Exchange.
September Brent crude was flat at $79.43 per barrel on ICE Futures Europe, according to Dow Jones Market Data.
August gasoline gained 0.1% to $2.62 a gallon, while August heating oil rose 0.4% to $2.5928 per gallon.
August natural gas rose 0.1% to $2.6265 per million British thermal units.
Oil prices have continued to hold their ground at or near their highest levels in three months as investors are betting that the latest round of production cuts from OPEC+ could help to offset expectations for weaker demand that have helped to weigh on prices this year.
U.S. inventory data are due out on Wednesday.
Source: Marketwatch
