WTI slumps 1.5% on US stockpiles build-up10 Jan 2024 21:02
Crude for front-month settlements reversed course on Wednesday, sending the prices to fall as much as 1.5% following the release of data by the US Energy Information Administration, which showed an unexpected increase in the country's commercial oil inventories, seemingly rekindling concerns about the commodity's demand.
West Texas Intermediate (WTI) for February contracts was down by 1.54% to sell at $71.17 a barrel at 1:02 pm ET. For March deliveries, Brent slipped 1.44% to trade at $76.45 per barrel.
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