Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the U.S., the world's biggest oil user, offset concerns over demand elsewhere, particularly in China.
Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the U.S., the world's biggest oil user, offset concerns over demand elsewhere, particularly in China.
Oil prices slumped over 2% on Wednesday as worries over supply disruptions in Libya eased and demand concerns continued despite China's latest stimulus plans.
Oil prices initially rose following the stimulus announcement from the world's biggest oil importer.
"Any revival in Libyan production would return to a market that is already beset by concerns of weak demand in the U.S. and China," ANZ Research said.
Organizations:
Brent, U.S, West Texas, ANZ Research, Energy Information Administration
Locations:
U.S, China, Libya, United States