Oil prices fall

Oil prices fell yesterday after industry data showed an unexpected build in US crude inventories and as investors waited for news on whether a fresh round of US tariffs on Chinese goods would take effect on Sunday.

Brent futures LCOc1 fell 24 cents to $64,10 per barrel by 0943 GMT. US West Texas Intermediate crude CLc1 slipped by 19 cents to $59,05 a barrel.

US crude stocks clocked a surprise rise in the most recent week while gasoline and distillate inventories also rose, data from industry group the American Petroleum Institute shows. Crude inventories rose by 1,4 million barrels in the week to December 6 to 447 million, while analysts were expecting a fall of 2,8 million barrels. — Reuters.

You Might Also Like

Comments

Take our Survey

We value your opinion! Take a moment to complete our survey