Oil prices fell on Wednesday as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb, potentially further denting demand in the world's biggest oil consumer.
SINGAPORE - Oil prices fell on Wednesday as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb, potentially further denting demand in the world’s biggest oil consumer.
Industry group American Petroleum Institute reported U.S. crude inventories rose last week by 7.5 million barrels compared with expectations for a draw of 2.1 million. The U.S. Energy Information Administration will release official oil inventory data later on Wednesday.
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