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Oil Falls as Crude Stockpiles Rise

M. Ali 8 October, 2020 1:49 am Commodities, Market Update

Oil prices declined on Wednesday, after official data showed a the first rise in four week in US crude inventories.

This also comes after the complications facing a new economic stimulus package.

Nonetheless, declines were limited due to recent output disruptions, which helped crude prices finish above session lows.

Brent crude futures for December delivery lost 66 cents, or 1.6%, and finished at $41.99 per barrel, while the West Texas Intermediate (WTI) November futures closed lower by 72 cents, or 1.8%, at $39.95 per barrel.

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