Oil prices fall as US crude stocks rise; Brent at $107.82 a barrel
Oil prices dropped Wednesday after an unexpected increase in US crude inventories, with Brent futures falling to $107.82 a barrel.
Oil prices experienced a significant decline on Wednesday as US crude inventories unexpectedly increased. Brent futures settled at $107.82 per barrel, while US West Texas Intermediate futures decreased to $104.86 per barrel. The drop in prices came after Brent crude futures fell by 93 cents, or 0.86 percent, and US West Texas Intermediate futures fell by 97 cents, or 0.92 percent.
Both benchmark contracts had closed over $3 higher on Tuesday, reaching their highest levels since May 19. Analysts had anticipated a drop in US crude inventories by approximately 1.6 million barrels, but data from the American Petroleum Institute revealed a 7.1 million barrel increase during the week ending September 11.
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- Oil prices fall after unexpected rise in US crude stocks english.ajel.sa
