Oil prices fell on Wednesday, with the U.S. benchmark settling at its lowest year to date, after domestic crude stockpiles in the world's top petroleum producer and consumer rose more than expected last week.

Oil prices experienced minimal fluctuations on Thursday amidst a backdrop of market uncertainty. Investors were apprehensive about the potential impact of tariffs threatened by US President Donald Trump on Mexico and Canada,

Oil prices steadied on Wednesday as investors weighed the impact of potential U.S. tariffs on Canadian and Mexican imports, while largely shrugging off an increase in U.S. weekly crude inventory. Brent crude futures fell 2 cents to $77.