NEW YORK, March 26 Reuters Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support.
Frontmonth Brent crude futures due to expire on Thursday were 12 cents down at 86.63 a barrel by 1159 EDT 1559 GMT while U.S. West Texas Intermediate WTI crude futures was up 13 cents at 82.08.
The more actively traded Brent futures for June were down 12 cents at 85.96.
Brent rose 1.5 on Monday while WTI gained 1.6 after Russia39;s government ordered companies to cut output in the second quarter to meet a 9 million barrels per day bpd target to comply with pledges to the OPEC consumer group.
Russia, among the top three global oil producers and one of the largest exporters of oil products, is also contending with a spate of recent attacks on its oil refineries by Ukraine and has mounted its own attacks on Ukrainian energy infrastructure.
Russian oil refining capacity shut down by Ukrainian attacks has reached 14 of the country39;s total capacity, Reuters calculations showed on Tuesday.
Gasoline is seeing the support of reduced availability to the global market from curtailed Russian exports that has filtered through to the U.S., said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois.
FGE analysts expect a structural decline in Russian refinery runs and do not see them regaining 2023 levels even in the…