Oil prices drop 2.21% to $101.13 amid U.S. stockpile surplus
after close1 source ↓written by the desknot a recommendation
- declined
- 2.21%
- per barrel
- $101.13
- increase in U.S
- 6.56 million barrel
Oil prices fell on Wednesday as Brent futures declined 2.21% to $101.13 per barrel, influenced by a 6.56 million barrel increase in U.S. crude inventories reported by the API. Additionally, Iraq confirmed the resumption of oil transfers to Turkey's Ceyhan terminal, while Libya's output is stabilizing post-fire incident. 📉
These developments may impact trading sentiment in the energy sector, as supply dynamics shift.
Not investment advice. For informational purposes only.