Oil steadies as U.S. debt bill progress balanced by higher inventories

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Oil steadies as U.S. debt bill progress balanced by higher inventories
France Dernières Nouvelles,France Actualités
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Brent crude futures rose 2 cents to $72.62 a barrel by 1026 GMT, while U.S. West Texas Intermediate crude gained 3 cents to $68.12

Oil steadied on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report of rising inventories in the world’s biggest oil consumer.

Brent crude futures rose 2 cents to $72.62 a barrel by 1026 GMT while U.S. West Texas Intermediate crude gained 3 cents to $68.12. Both benchmarks fell on Tuesday and Wednesday. Mixed demand indications from China, the world’s biggest oil importer, have nonetheless weighed on the market, as has industry data showing a rise in U.S. crude inventories.

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