Oil prices fall for third day on inventory build


Brent crude futures settled at $66.44 a barrel, down 0.9 percent, or 58 cents. U.S. West Texas Intermediate (WTI) crude futures settled at $59.64 a barrel, down 33 cents, or 0.6 percent. The previous day, Brent broke through $67 for the first time since June 2015 and WTI rose above $60 a barrel for the first time since May 2015.

TOKYO: U.S. oil prices fell for a third day on Wednesday after data from an industry body showed crude stocks rose more than expected last week, while a selloff in other commodities, stocks and bonds added to the bearish tone.

U.S. West Texas Intermediate futures were down 1 percent, pushed below $64 at $63.87 by 0012 GMT. Brent crude was yet to trade.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

JCorp ties up with Tianma Precision to invest in a RM440mil manufacturing facility in Johor
MyEG reports higher 3Q earnings
Perdana Petroleum posts stronger net profit, revenue on higher vessel utilisation
Zelan CEO Mohd Ariff Abd Samat resigns after three months
SD Guthrie expects a satisfactory performance for FY24
Ringgit appreciates against US dollar
Capital A subsidiary signs two-year aircraft lease agreement with AirAsia X
Sime Darby Property records all-time high 9M revenue and profit
Sapura Energy bags contract from PETRONAS Carigali
Sports Toto reports lower 1Q profit, declares 2 sen interim dividend

Others Also Read