Oil Prices Fall for the Second Day as U.S. Crude Inventories Increase

  • International
  • 27 March 2024
1

Oil prices fell for a second straight day on Wednesday after a report on rising crude inventories in the United States, the world's largest oil consumer, and signs that major producers are unlikely to change production policy at a technical meeting scheduled for next week.

Brent crude futures for May fell 69 cents, or 0.8 percent, to $85.56 a barrel. The May contract is due to expire on Thursday, and the most traded June contract fell 60 cents, or 0.7 percent, to $85.03.

U.S. West Texas Intermediate crude futures for May delivery fell 55 cents, or 0.7 percent, to $81.07.

Source (Al-Arabiya.net Website, Edited)

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