Crude steady as storm set to miss production areas

Crude oil traded little changed as forecasters said a storm in the Gulf of Mexico will probably miss US oil fields and refineries, easing concern that supplies will be disrupted.

Tropical Storm Dolly is predicted to come ashore today near the Texas border with Mexico, south of the Gulf of Mexico area that accounts for about 25 percent of US oil output, the National Hurricane Center said.

"We're expecting Dolly to miss the row of refineries that lies in the Gulf of Mexico," said Robert Laughlin, senior broker at MF Global Ltd in London. "Local weather is calm with warm water so there is nothing to suggest that she will change direction."