Oil prices slip as U.S. inventories and virus fears grow - Reuters

Oil prices slip as U.S. inventories and virus fears grow - Reuters:

Oil prices fell on Wednesday as industry data showed a bigger than expected inventory build in the United States, where a surge in coronavirus cases could further dent fuel demand in the world’s biggest oil consumer.

Brent crude fell 60 cents, or 1.4%, to $43.72 a barrel by 0912 GMT. U.S. West Texas Intermediate (WTI) crude dropped 70 cents, or 1.7%, to $41.22.

The American Petroleum Institute (API) industry group reported U.S. crude inventories rose last week by 7.5 million barrels, against expectations for a draw of 2.1 million barrels.

The U.S. Energy Information Administration (EIA) releases official oil data later on Wednesday.