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World oil prices fall on rising US fuel supplies
Bisnis | Ekonomi - Posted on 07 December 2023 Reading time 5 minutes
DIGIVESTASI - World oil prices fell on Wednesday (June 12, 2023), due to increased fuel supplies to the United States.
According to a Reuters report, the price of West Texas Intermediate (WTI) oil for January 2024 delivery fell USD 2.94, or about 4.1%, to USD 69.38/barrel on the New York Mercantile Exchange.
Brent crude oil prices for February 2024 delivery fell $2.90, or about 3.8%, to $74.30/barrel on the ICE London Futures Exchange.
A report released by the Energy Information Administration (EIA) on Wednesday showed that US fuel inventories rose by 5.4 million barrels last week, greater than analysts' estimates of a 1 million-barrel increase.
US oil inventories fell by 4.6 million barrels, far exceeding analysts' estimates of a 1.4 million-barrel decline.
Source: pasardana.id
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