There is also speculation that the Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia and Kazakhstan may decide to delay its planned supply increase in April, said IG market analyst Tony Sycamore.
#wti#brent#Crudeoil
Brent futures were up 20 cents at $76.24 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95.
The March contract expires on Thursday, while the more active April contract rose 21 cents to $72.31.
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Feb 20 (Reuters) - Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles weighed on sentiment.
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Russia said that Caspian Pipeline Consortium (CPC) oil flows, a major route for crude exports from Kazakhstan, were reduced by 30-40% on Tuesday after a Ukrainian drone attack on a pumping station.
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U.S. West Texas Intermediate crude futures for March rose 70 cents, or 1%, to $72.55, up 2.6% from the previous close before Monday's U.S. public holiday.
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Oil prices edged up on Wednesday, buoyed by concern over oil supply disruptions in Russia and the U.S. while the market awaits clarity on sanctions as the U.S. attempts to broker a deal to end the war in Ukraine.
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-Ukraine drone struck Russian oil pipeline Monday
-Kazakhstan transit volumes could drop by 30%, says Transneft
-OPEC+ output plans also in focus
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OPEC+ producers are not considering delaying a series of monthly oil supply increases scheduled to begin in April, according to a Russian state media report.
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A senior Russian official said on Tuesday that Ukrainian drones had attacked a pipeline in Russia, which pumps about 1% of global crude supply. He said the strike could disrupt flows to world markets and damage U.S. companies.
#WTI#BRENT#CRUDEOIL
-Brent crude futures gained 23 cents, or 0.3%, to $75.45 per barrel at 0758 GMT.
-U.S. West Texas Intermediate crude futures were up 75 cents from Friday's close at $71.49 a barrel.
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Feb 18 (Reuters) - Brent crude oil prices advanced on Tuesday adding to gains in the previous session after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, but gains were capped on the prospects of supply rising soon.
#WTI#BRENT#CRUDE
-Benchmarks Brent, WTI flat
-CPC oil flows reduced due to drone attack
-Dollar near two-month low after weak U.S. retail data
Dollar near two-month low after weak U.S. retail data
#WTI#BRENT#CRUDEOIL