Post: Oil Prices Steady as US Crude Inventories Fall

Oil prices stabilized on Wednesday on industry data showing a surprise drop in US crude and gasoline inventories, following two previous sessions of losses on the prospect of hostilities easing in the Middle East. Brent crude futures gained 21 cents, or 0.3%, to $71.33 a barrel. US West Texas Intermediate crude futures rose 22 cents, or 0.3%, to $67.43 per barrel. Crude stocks dipped by 573,000 barrels in the week ended Oct. 25, the sources said on condition of anonymity. Gasoline inventories lost 282,000 barrels, and distillate stocks fell by 1.46 million barrels. Official US government data is scheduled to be released later on Wednesday. Source: Qatar News Agency