Doha: Oil prices were little changed in trading on Wednesday, supported by the agreement between the United States and Iran, and remained near their lowest levels in three months. Investors are assessing the implications of the agreement reached between Washington and Tehran, as well as the warning by the International Energy Agency that the global oil market could face a supply surplus next year.

According to Qatar News Agency, forecasts point to stronger near-term demand as depleted inventories are replenished. Brent crude futures rose 2 cents to $78.98 a barrel, while US West Texas Intermediate crude futures gained 3 cents to $76.08 a barrel.