India, Feb. 4 -- Oil prices were little changed on Wednesday after gaining nearly 2 percent in the previous session following reports of growing tensions between the United States and Iran.
Losses were capped after the American Petroleum Institute (API) said that U.S. crude oil inventories decreased by 11.08 million barrels in the week ended Jan. 30.
Benchmark Brent crude futures were down 0.1 percent at $67.24 per barrel, while WTI crude futures were little changed at $63.16.
Escalating U.S.-Iran tensions raised fears of supply disruptions from the crude-rich Middle East region.
U.S. President Donald Trump said Tuesday that Washington is negotiating with Iran "right now," without offering details.
His remarks came after a U.S. fighter...