Oil slips on rising US stockpiles, cautious supply expectations

London, May 8 (BNA): Oil prices fell in early Asian trade on Wednesday as industry data showed a pile up in both crude and fuel inventories in the U.S., a sign of weak demand, and cautious supply expectations emerged ahead of an OPEC+ policy meeting next month.

Brent crude oil futures fell 30 cents, or 0.36%, to $82.86 a barrel by 0348 GMT. U.S. West Texas Intermediate crude futures fell 25 cents, or 0.32%, to $78.13 a barrel, Reuters reported.

Both benchmarks fell marginally in the previous session on signs of easing supply tightness and weaker global oil demand from an EIA forecast report on Tuesday.


#Oil #slips #rising #stockpiles #cautious #supply #expectations

Source link

READ MORE  Saudi Stock Exchange main index ends trading lower

Leave a Comment