Brent crude oil price has suffered a harsh reversal in the past few days as the crisis in the Middle East eased. It plunged from a high of $80.13 on Monday to the current $67.9, its lowest level since June 11.

Oil futures were little changed on Wednesday as markets weighed expectations of more supply from major producers next month, a softer U.S. dollar and a mixed bag of economic and market indicators from the U.

Crude oil prices hovered near previous levels on Wednesday as traders evaluated the prospect of increased output from key producers, signs of rising US stockpiles, and broader economic signals. The slight movements in prices came amid a backdrop of geopolitical stability and ongoing speculation around macroeconomic policy changes in the US.

Oil prices rose 3% on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog and the U.S. and Vietnam reached a trade deal, but a surprise build in U.S. crude supplies limited price gains somewhat.