Oil Prices Struggle for Direction

Oil prices showed a mixed performance on Wednesday, after support from data showing the fifth consecutive weekly draw in US crude stockpiles was offset by negative demand forecasts.

Crude prices, especially in the United States, remain supported by output disruptions in the Gulf of Mexico due to Hurricane Laura.

Brent crude futures for October delivery closed lower by 22 cents, or 0.5%, at $45.64 per barrel.

Meanwhile, the US benchmark crude West Texas Intermediate (WTI) futures for October delivery added 4 cents, or 0.1%, and settled at $43.39 per barrel.