Oil near flat as extreme cold hit US output

Brent crude futures settled down 41 cents to US$77.88 a barrel. US West Texas Intermediate crude futures (WTI) gained 16 cents at US$72.56.

NEW YORK: Oil prices were near flat on Wednesday as severe cold that disrupted some US oil production offset disappointing economic growth in China that stoked worries about energy demand.

Brent crude futures settled down 41 cents to US$77.88 a barrel. US West Texas Intermediate crude futures (WTI) gained 16 cents at US$72.56.