RoydadNaft –  Brent crude futures rose by 19 cents (+0.3%) to $62.13 per barrel. U.S. West Texas Intermediate (WTI) futures also gained 19 cents (+0.3%), reaching $58.44 per barrel.

Oil prices held steady on Wednesday after nearly a 1% decline in the previous session. A drop in U.S. crude inventories — according to data from the American Petroleum Institute (API) — provided some support for prices. However, rising gasoline and refined product stockpiles heightened concerns about oversupply.

Markets are also watching developments in the Russia–Ukraine peace talks and awaiting the U.S. Federal Reserve’s upcoming interest rate decision — two key factors that could influence short-term oil price movements.