WASHINGTON (dpa-AFX) - Oil prices were little changed on Thursday after falling for four consecutive sessions on easing concerns over the Israel-Gaza war and worries about the global demand outlook.
Brent crude futures edged up 0.1 percent to $76.15 a barrel while WTI crude futures were little changed at $71.97.
Oil prices found some support at lower levels after data showed a decline in U.S. inventories.
Data from the Energy Information Administration (EIA) showed crude inventories in the U.S. fell by 4.6 million barrels last week, after rising by 1.4 million barrels a week earlier.
At 426.0 million barrels, U.S. crude oil inventories are about 5 percent below the five-year average for this time of year, the EIA added.
Motor gasoline inventories also fell by 1.6 million barrels last week and are about 3 percent below the five-year average for this time of year.
Distillate fuel inventories, which include heating oil and diesel, slumped by 3.3 million barrels last week and are about 10 percent below the five-year average for this time of year.
With the U.S. facing an economic slowdown and recent weak data dampening hopes of Chinese economic recovery, traders are waiting to see whether the Organization of the Petroleum Exporting Countries (OPEC) and its allies such as Russia, known as OPEC+, will lift some voluntary output cuts in October.
On the geopolitical front, Israel said its forces have stepped up operations in Deir el-Balah in central Gaza and Khan Younis in the south.
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