Sunday, May 18, 2025 | 06:04 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Oil prices slip as US inventory build stokes fears of supply glut

Crude inventories rose by 584,000 barrels in the week to Oct. 16 to 490.6 million barrels, data from industry group the American Petroleum Institute (API) showed

Oil refinery
Premium

Reuters
Oil prices eased on Wednesday after a surprise build-up in US crude stockpiles stoked concerns about a global supply glut and a spike in global Covid-19 cases fuelled fears of a stalled oil demand recovery.
 
Brent crude futures were at $42.53 a barrel, down 63 cents, or 1.46%, as of 1349 GMT, while US West Texas Intermediate (WTI) crude futures slipped 75 cents, or 1.8%, to $40.95. Both benchmarks rose in the previous session.
 
"Lower European equity markets and a surprise crude build are in my view the factors weighing on oil prices today. The market is probably also wanting

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in