Oil prices slipped on Wednesday on expectations for a build-up in US crude inventories, but Russian government comments on prospects for stepping up cooperation with OPEC to coordinate output cuts braked steeper declines.
US WTI crude futures were at $63.36 a barrel at 0208 GMT, down 15 cents, or 0.24 per cent, from their previous settlement.
"With the change in prices being only a few cents, I think the oil market is waiting for the next development and of course the US inventories data due tonight (Wednesday) is very good reason for traders to be waiting," said Michael McCarthy, Chief Market Strategist at brokerage CMC Markets. Read More
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