NEW YORK (Reuters) - Oil prices fell more than 1 percent on Thursday after U.S. government data reported the first domestic crude inventory growth in six weeks, a build above market expectations.
Brent crude was down 66 cents, or 1.3 percent, at $51.15 per barrel by 11:09 a.m. EDT (1609 GMT).
U.S. West Texas Intermediate (WTI) crude fell 65 cents, or 1.2 percent, to $49.53.
The Energy Information Administration (EIA) said U.S. crude stocks rose by 4.9 million barrels in the week ended Oct. 7. Analysts polled by Reuters had forecast a more modest build of nearly 700,000 barrels. [EIA/S]
(Additional reporting by Ahmad Ghaddar in LONDON and Henning Gloystein in SINGAPORE; Editing by Bill Trott and Chizu Nomiyama)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
