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Oil Dips on Report of Rising U.S. Crude Stockpiles, But Market Remains Tense


Wednesday, 1 May 2019 09:00 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices dipped on Wednesday after a report showed a rise in available U.S. crude inventories, but the market remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions on Iran and continuing OPEC supply cuts.

Spot Brent crude futures, the international benchmark for oil prices, were at $71.65 per barrel at 0143 GMT, down 41 cents, or 0.6 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 51 cents, or 0.8 percent, at $63.49 per barrel.

U.S. crude stocks rose by 6.8 million barrels to 466.4 million barrels in the week to April 26, industry group the American Petroleum Institute (API) said on Tuesday, implying a rise in U.S. crude supply.

Source : Reuters


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