Oil prices were little changed on Wednesday as traders remained cautious after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China.
Brent crude futures slipped 3 cents to $74.88 a barrel. U.S. West Texas Intermediate crude edged down 2 cents to $70.84 as of 0222 GMT.
U.S. crude stockpiles rose by about 3.6 million barrels in the week ended May 12, according to market sources citing American Petroleum Institute figures. Seven analysts polled by Reuters, had expected a 900,000 barrel drawdown.The crude inventory build added to concerns about U.S. growth after data showed retail salesTalks on raising the U.S. debt ceiling continue to weigh on the market. The U.S.
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