Reported about 1 month ago
Oil prices fell due to a higher-than-expected rise in US crude stockpiles, alongside renewed efforts by the Biden administration to achieve a cease-fire in the Middle East. West Texas Intermediate dropped approximately 1.4% to below $71 per barrel, while Brent crude settled just under $75. A reported build of 5.47 million barrels in US stockpiles, exceeding projections, indicated potential supply issues, causing price fluctuations amidst ongoing geopolitical tensions.
Source: YAHOO