Oil
prices fell on Wednesday, with Brent falling back below $70 per barrel and US
West Texas Intermediate crudes dipping below $65, pulled down by a report of
increasing US crude inventories that surprised many traders.
US
WTI crude futures were at $64.86 a barrel by 0201 GMT, down 39 cents, or 0.6
per cent, from their previous settlement.
Traders said the dips came after the American
Petroleum Institute (API) late on Tuesday reported a surprise 5.3 million
barrels rise in crude sticks in the week to March 23, to 430.6 million
barrels.
Official US inventory data will be published by
the Energy Information Administration (EIA) late on Wednesday.
Read More:- Crude Oil Updates
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