Oil prices little changed as fundamentals weigh on geopolitical risk premium

News Snapshot:

By Colleen Howe BEIJING (Reuters) - Oil prices were little changed in Asian trading on Wednesday as weak demand and a recovery in supply limited the market's reaction to mounting geopolitical risk. The front-month March contract for Brent crude inched up 5 cents to $79.60 a barrel as at 0138 GMT. U.S. West Texas Intermediate crude ticked up 7 cents to $74.44 a barrel. "Weak demand amid ongoing supply risks kept crude oil hemmed in a tight range," ANZ analysts said in a client note. The prompt-month contract for Brent crude was trading at a 42 cent premium over the...