REUTERS, Tokyo/Singapore

Oil prices were little changed on Thursday, reversing earlier declines, on scepticism that peace talks between ‌the US and Iran will reach a deal to end the war that has bottled up oil output from the key Middle East producing region.

Brent crude futures were down 26 cents to $94.67 a barrel at 0611 GMT. US West Texas Intermediate crude futures climbed 14 cents to $91.43 a ​barrel. Both benchmarks settled little changed on Wednesday but traded in a wide range.

The US-Israeli war on Iran has resulted ​in the largest-ever disruption of global oil and gas supplies due to Iran’s interruption of traffic through the Strait of Hormuz, which typically carries about 20 percent of the world’s oil and liquefied natural gas ​flows.