Amman – Oil prices fell on Thursday, extending losses from the previous day amid a significant rise in U.S. fuel inventories last week.
However, concerns over supply cuts by OPEC members and Russia limited the decline.
اضافة اعلان
According to Bloomberg Economics, Brent crude futures dropped by 28 cents, or 0.4%, to $75.88 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures fell by 30 cents, or 0.4%, to $73.02 per barrel.
Both benchmark crudes lost more than 1% on Wednesday, pressured by a strengthening dollar and a larger-than-expected increase in U.S. fuel inventories.
The U.S. Energy Information Administration reported yesterday that gasoline inventories rose by 6.3 million barrels last week, reaching 237.7 million barrels.
Distillate inventories increased by 6.1 million barrels to 128.9 million barrels, far exceeding expectations of a 600,000-barrel rise. Crude oil inventories, however, decreased by 959,000 barrels during the week, compared to analysts' predictions of a 184,000-barrel decline.
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