Oil Falls After Surprise Increase in US Crude and Gasoline Inventories

  • International
  • 7 August 2024
1

Oil prices fell in early Asian trade on Wednesday, after a brief rebound in the previous session, after data showed an unexpected increase in crude and gasoline inventories in the United States, offsetting concerns about global oil supplies. Crude oil, gasoline, and distillate inventories increased in the United States last week.

Brent crude futures fell 21 cents, or 0.27 percent, to $76.27 a barrel. U.S. West Texas Intermediate crude fell 25 cents, or 0.34 percent, to $72.95.

Source (Al Arabiya.net Website, Edited)

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