OIL

Oil little changed after report of rising US crude inventories

Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles weighed on sentiment.

Brent futures were up 20 cents at $76.24 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95.

The March contract expires on Thursday, while the more active April contract rose 21 cents to $72.31.

U.S. crude stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures on Wednesday.

Official oil inventory data from the U.S. Energy Information Administration (EIA) is due on Thursday. Both reports were delayed a day on account of a U.S. holiday on Monday.

Source: Reuters

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