Oil was steady as an industry report signaled a build in US crude inventories ahead of government figures.
Brent traded near $73 a barrel after closing slightly higher on Tuesday, and West Texas Intermediate was above $69. The American Petroleum Institute reported crude stockpiles expanded by 4.8 million barrels last week while fuel supplies fell, according to a document seen by Bloomberg.
The Energy Information Administration is scheduled to release its data on inventories, refining and fuel demand later on Wednesday.
Oil has swung between gains and losses since mid-October, influenced by a range of factors including concerns around China's demand outlook, plentiful global supply, Middle East hostilities and a strong dollar. Still, implied volatility for Brent has trended lower since the middle of last month.
Brent for January settlement was little changed at $73.23 as of 12:03 p.m. in Singapore. WTI for January delivery was steady at $69.20 a barrel.
The December contract, which expires Wednesday, traded at $69.50 a barrel.
Source: Bloomberg
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