Oil prices saw little change on Wednesday and Brent crude was just above the flatline at $67.16 a barrel and West Texas Intermediate was trading around $65.44.
There is an expected rise in supply of oil from major suppliers in August amid a weaker dollar along with mixed economic signals grom the US.
Data from the American Petroleum Institute shows that US crude stockpiles increased by 680,000 barrels last week which surprised traders as normally in the summer months inventories typically are lower.
“Today’s oil price moves are being pushed by the interplay of potentially rising OPEC+ supply, confusing US inventory signals, uncertain geopolitical outlook, and macro-policy ambiguity,” said Phillip Nova senior market analyst Priyanka Sachdeva.
