WASHINGTON (dpa-AFX) - Oil prices were slightly higher on Wednesday, after having fallen more than 4 percent to a near two-week low the previous day due to easing supply worries and concerns over weakening demand.
Benchmark Brent crude futures edged up 0.1 percent to $74.32 a barrel in European trade, while WTI crude futures were up 0.2 percent at $70.69.
As demand worries weigh, investors await the latest U.S. oil inventory data for further direction.
The American Petroleum Institute releases its weekly inventory report later in the day, followed by the government's figures on Thursday. The reports are coming a day later than normal following a federal holiday.
Investors also await concrete details on Chinese stimulus plans. It is believed a press briefing by China's housing minister on Thursday will likely provide more details of measures to promote the 'steady and healthy' development of the property sector.
Meanwhile, considerable uncertainty over what may happen next in the Middle East conflict.
Israel said it would consider the 'opinions' of the United States but will ultimately act against an Iranian missile attack according to its own 'national interests'.
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