Owing to lower crude inventories in the United States and the cautious outlook for demand, oil remained stable on Thursday.

Oil prices were little changed on Thursday, as the weaker-than-expected fall in U.S. crude oil inventories and potentially lower demand prospects prompted investors to remain cautious. September Brent futures fell 2 cents to $79.44 per barrel at 0530 GMT, while US West Texas Intermediate (WTI) crude rose 1 cent to $75.36 per barrel. The August WTI contract expires on Thursday

Prices fell in the previous session, with investors taking profits after data showed that U.S. stocks declined less than analysts expected. Brent crude prices rose to a higher range in July, after being stuck in a range of 72 to 78 dollars in May and June, Citi analysts added, supported by Saudi production cuts and geopolitical risks