Oil prices remained stable as the market awaited the release of US weekly inventory data, which is expected to show an increase in crude inventories. Brent crude hovered near $85 a barrel, while West Texas Intermediate traded above $81. The US Energy Information Administration is set to release the inventory snapshot, with an industry report already indicating a rise in inventories. With limited other catalysts, oil futures have been following broader equity market trends, which have begun to weaken. The stagnant oil prices have led to a decrease in volatility for Brent crude. Despite this, oil is still on track for a monthly gain following extended supply cuts by OPEC+. Traders are keeping an eye on the demand outlook as Asian refineries resume operations after maintenance, despite facing challenges with low margins. Subscribe to Bloomberg's Energy Daily newsletter for more updates.