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Crude oil futures rose and fell on Wednesday, helped by Turkey's attack on Syria and the prospect of a trade agreement between China and the United States, but the increase in U.S. crude oil inventories was limited.
Brent crude oil futures rose $0.08 to $58.32 a barrel, while U.S. crude oil futures fell $0.04 to $52.59 a barrel.
Oil prices fell after the session, after Chinese officials said Beijing had lowered its expectations of progress in trade negotiations with the United States this week. Trade representatives from the world's two largest economies will hold talks in Washington on Thursday to update efforts to reach an agreement.
Turkish President Recep Tayyip Erdogan said Turkey launched a military operation against Kurdish forces in northeastern Syria, adding that the purpose of the attack was to destroy a "terrorist corridor" along the Turkish border.
Analysts say the attacks could affect the economy of Kurdistan in Iraq's oil-producing region and push up energy prices.
U.S. President Trump said Turkey's military action against Syria was a "bad idea" without the support of the U.S. government, and then oil prices fell.
The American Energy Information Association (EIA) said that last week U.S. crude oil inventories increased by 2.9 million barrels, more than twice the analysts'expected increase of 1.4 million barrels, which also put pressure on oil prices.


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