Oil prices mostly steady despite U.S. crude stock draw - Reuters

Oil prices mostly steady despite U.S. crude stock draw - Reuters:

Oil futures were little changed on Wednesday as price support from a larger-than-expected decline in U.S. crude inventories was countered by a slump in equities.

Brent crude futures shed 27 cents to $61.87 a barrel by 1:57 p.m. EDT (1757 GMT).

U.S. West Texas Intermediate crude futures lost 25 cents to $53.65 a barrel. On Tuesday, it had recorded its biggest daily rise since early January.


After swelling to near two-year highs, U.S. crude stocks fell 3.1 million barrels last week, compared with analysts’ expectations for a draw of 1.1 million barrels, the Energy Information Administration (EIA) said.