Oil Prices Flat as Uncertainty Clouds Market Outlook

Crude oil prices, which had been on the rise earlier this week, retreated partially following a report of an inventory build in the United States that traders apparently did not expect as well as uncertainty surrounding geopolitical developments in the Middle East. At the time of writing, Brent crude was trading at $64.82 per barrel and West Texas Intermediate was changing hands for $61.50 per barrel, both down from Wednesday’s close. The dip followed the U.S. Energy Information Administration’s latest weekly inventory report, released…