Ammon News - Oil prices slipped for a second consecutive session on Wednesday, as traders awaited the outcome of Russia-Ukraine peace talks that could boost supply, while concerns over a potential surplus grew amid rising inventories.

By midday, prices were steady, with Brent crude up 2 cents, or 0.03%, at $62.47 at 0427 GMT, while U.S. West Texas Intermediate rose 3 cents, or 0.05%, to $58.67.

The American Petroleum Institute reported on Tuesday U.S. crude and fuel inventories rose last week, market sources said, citing the API figures.

Crude stocks rose by 2.48 million barrels in the week ended November 28, gasoline inventories increased by 3.14 million barrels, while distillate inventories rose by 2.88 million barrels, the API said, according to the sources.

The U.S. Energy Information Administration will release official government stockpile data later on Wednesday.

Reuters