NEW YORK: Brent crude oil futures edged higher in choppy trading, as traders searched for direction amidst political tensions in Ukraine and Gaza, and US prices were supported by expectations of a drop in national stockpiles.

Brent crude for September delivery rose by 4 cents to $107.72 per barrel by 11:37 a.m. EDT (1530 GMT), after swinging by nearly $1 between a low $107.45 and a high of $108.40. US oil for August delivery edged up 15 cents to $104.74 a barrel, down from a session high of $105.25 but above a session low of $104.11.

The US August contract was to expire on Tuesday. Its premium to September crude increased Tuesday to more than $2, reflecting traders' concerns of low oil inventories at the Cushing, Oklahoma, delivery point for US crude.

Brent has largely traded between $105 and $112, and US crude between $100 and $105 throughout July, after the benchmarks peaked above $115 and $107 respectively in mid-June.

"The market's finding a home now, it's looking for its next headline," said Stephen Schork, editor of The Schork Report in Villanova, Pennsylvania.