Crude oil pared earlier losses on Wednesday to trade just below $83 a barrel after two consecutive sessions of declines, as signs of increased Persian Gulf flows eased supply concerns. Traders are monitoring talks between Iran and Oman over a possible arrangement to restore shipping through the Strait of Hormuz, a vital oil transit route. US President Donald Trump said about 10 million barrels passed through the waterway on Tuesday, while satellite data suggested Saudi Arabia may be increasing loadings from terminals inside the Persian Gulf. Iran and Oman are also reportedly discussing broader arrangements for managing Hormuz, though uncertainty remains over whether Washington would accept an agreement that excludes the US. EIA (US Energy Information Administration) data showed US crude inventories were virtually unchanged last week, while gasoline and diesel stocks fell to seasonal lows.