Oil prices were steady in Asian trade on Wednesday after rising sharply in the previous session as Israel threatened to strike Lebanon if a ceasefire with Hezbollah fails.
However, oil's momentum was halted by industry data showing an unexpected increase in US crude inventories. Sentiment also remained largely uneasy ahead of an OPEC+ meeting on Thursday, where the cartel is widely expected to delay plans to increase output.
Still, oil retained some risk premium as Israel and Hezbollah repeatedly violated a recently announced ceasefire. Rising tensions between Russia and Ukraine also kept traders on edge.
Brent crude futures expiring in February fell 0.1% to $73.58 a barrel, while West Texas Intermediate crude futures fell 0.1% to $69.50 a barrel by 8:51 p.m. ET (01:51 GMT). Both contracts jumped more than 2% on Tuesday.
Source: Investing.com
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