Oil falls after surprise increase in U.S. crude inventories | Reuters:
Oil prices fell more than 1% on Wednesday after an industry group reported an unexpected rise in U.S. crude inventories, renewing concerns about fuel demand that caused a steep selloff earlier in the week.
Brent crude futures LCOc1 fell 33 cents, or 0.8%, at $41.39 a barrel by 0641 GMT, and earlier fell by as much as 1.2% to $40.21.
U.S. West Texas Intermediate crude futures CLc1 dropped 40 cents, or 1%, to $39.40 a barrel after earlier declining by as much as 1.4% to $39.26.
Both contracts fell more than 4% on Monday, the most in two weeks, though they rose on Tuesday.
No comments:
Post a Comment