Oil prices fell for a second day on Wednesday, after a surprise rise in US crude inventories raised concerns about demand in the wake of weaker-than-expected economic data from the United States and China, the world’s two largest oil consumers.
Brent crude futures fell 29 cents, or 0.4 percent, to $74.60 a barrel. US West Texas Intermediate crude also fell 32 cents, equivalent to 0.4 percent, to $70.55, at 0005 GMT.
US crude inventories rose by about 3.6 million barrels in the week ending May 12, according to market sources citing American Petroleum Institute figures.
2023-05-17 05:40:51
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