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Oil prices stepped back by 1% on surprising US inventories build upInternational benchmarks for crude oil lost about 1% on Wednesday, 10 January 2024 on a surprise jump in US gasoline inventories, which spurred demand concerns among traders. |
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International benchmarks for crude oil lost about 1% on Wednesday, 10 January 2024 on a surprise jump in US gasoline inventories, which spurred demand concerns among traders. Meanwhile, comments from the European Central Bank on ‘the block may have been in recession last quarter and the prospects remain weak’ weighed heavily on the market confidence.
Brent inched 79 cents lower or 1% to close at $76.80/barrel.
WTI fell 87 cents or 1.2% to settle at $71.37/barrel.
