Oil prices steadied on Wednesday morning before the EIA inventory report after a reported compromise between Saudi Arabia and the UAE over baseline production levels removed a major uncertainty that was hanging over the market. As of 9:58 a.m. EDT on Wednesday, WTI Crude was down 0.32 percent at $74.93 and Brent Crude prices were down 0.17 percent at $76.29. Earlier in the day, oil prices were deeper in the red, as market participants started to fret about what low Chinese imports would mean for global oil demand. China’s crude…
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