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Oil is stable as US crude stocks fall amid trade tensions
Oil prices held steady on Friday as the market received support from falling US inventories to their lowest level since 2015, although trade tensions between China and the United States and the emerging market economy are still a source of concern.
US West Texas Intermediate crude futures were $ 67.93 a barrel by 0654 GMT and 16 cents higher than the previous settlement.
Global Brent crude futures rose 8 cents to $ 76.58 a barrel.
US commercial inventories fell 4.3 million barrels to 401.49 million barrels in the week ending Aug. 31, the lowest level since February 2015, data from the US Energy Information Administration showed on Thursday.
However, analysts said that increased inventories of refined materials and relatively weak at the peak fuel consumption season this summer led to higher prices.
Data from the Energy Information Administration showed gasoline stocks rose 1.8 million barrels, while distillate stocks, including diesel and heating oil, increased by 3.1 million barrels.
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