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Oil Prices Dip After U.S. Inventory Gain


Wednesday, 27 March 2019 08:41 WIB

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Oil prices edged lower on Wednesday after an industry report showed an unexpected rise in U.S. crude inventories, but losses were capped by ongoing supply curbs and issues affecting output from countries including Venezuela.

Brent was down by 12 cents, or 0.2 percent, at $67.85 by 00:10 GMT. On Tuesday, the global benchmark rose 76 cents to $67.97 a barrel, not far below its year-to-date high of $68.69, reached on March 21.

U.S. crude futures fell 9 cents, or 0.2 percent, to $59.85. The U.S. benchmark rose $1.12, or 1.9 percent, to $59.94 a barrel in the previous session.

The American Petroleum Institute, a trade organization, said late on Tuesday that U.S. crude inventories rose 1.9 million barrels in the latest week, while analysts had forecast a decrease of 1.2 million barrels.

Source : Reuters


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