Oil prices fell to their lowest levels in two months during trading on Wednesday, amid an unexpected increase in US inventories, which indicates weak demand, in addition to the continued impact of prices on the possibility of reaching a peace agreement that could end the Russian-Ukrainian war.
Brent crude futures fell 0.67% to $72.53 a barrel at settlement. US oil futures also fell 0.45% at settlement to $68.58 a barrel.
The decline in prices comes after the US Energy Information Administration revealed on Wednesday a surprise increase in US gasoline and distillate inventories last week, while the country's oil inventories fell unexpectedly as refining activity increased.
Latest Oil Prices
WTI Crude • 68.79 +0.25%
Brent Crude • 72.53 -0.67%
Murban Crude • 74.61 -0.49%
Louisiana Light • 71.95 -2.85%
Bonny Light • 78.62 -2.84%
Opec Basket • 75.93 -0.05%
Mars US • 73.22 -1.56%
Gasoline • 1.943 -0.29%
Natural Gas • 3.906 -6.42%
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