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Oil prices edge down as U.S. fuel stockpiles grow more than expected
U.S. oil prices inched down on Thursday, with traders worried about the strength of demand in the United States after gasoline stockpiles there grew last week by far more than analysts had expected.
U.S. West Texas Intermediate (WTI) crude futures
International Brent crude oil futures
"While (U.S.) inventories fell slightly more than expected, there was a large build in gasoline inventories. This stoked fears of weak demand in the U.S.," ANZ Bank said in a research note.
The U.S. Energy Information Administration (EIA) said in a report on Wednesday that crude production rose last week to a record 11.9 million barrels per day (bpd), as crude exports jumped close to all-time highs near 3 million bpd.
However, gasoline stockpiles
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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