Oil prices were nearly flat Friday as traders awaited the end of a two-day European Union summit on shoring up the region's stricken banks, AP reports.

Benchmark crude for November delivery was down 2 cents to $92.08 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract lost 2 cents to finish at $92.10 a barrel on the Nymex on Thursday.

Brent crude, which many U.S. refiners use to make gasoline, rose 1 cent to $112.43 in London.

European Union leaders meeting in Brussels reached an agreement to create a banking supervisor for the 17 countries that use the euro currency, a step seen as vital toward stabilizing scores of troubled banks and helping to resolve the region's debt crisis.