LONDON—Oil prices stabilised on Wednesday ahead of Federal Reserve Chair Jerome Powell’s congressional testimony later in the day and as data showing British inflation remained sticky raised the possibility of a hawkish Bank of England policy decision this week.
Brent futures were flat at $75.90 a barrel by 0929 GMT and U.S. West Texas Intermediate (WTI) crude futures edged up 6 cents, or 0.08 percent, to $71.25.
