Oil Prices Hold Steady on Inventory Outlook, Middle East Risks

OIL PRICE - LONDON - Oil prices were stable on Wednesday at around $85 a barrel for Brent crude, amid forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from the Middle East conflict.

Brent crude oil futures slipped 9 cents, or 0.11%, to $84.92 a barrel by 1315 GMT. U.S. West Texas Intermediate crude futures shed 7 cents, or 0.09%, to $80.76 a barrel.