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International benchmarks for oil prices settled mix on Wednesday (4 May) after the EIA data showed some 2.8 million barrels increased in commercial crude inventories in the US last week, while gasoline stockpile added 536,000 barrels to reach 242 million barrels, the highest level in 26 years. However, traders are holding to the fact the domestic US output continue to drop last week and some production issues in Alberta and Venezuela might keep the weakening trend in check. Analysts meanwhile believed that crude oil prices has increased too quickly in the past month in spite of absence of any fundamental support and that high stockpile might again pull the prices back down.

WTI closed at $43.78/b (+$0.13) June delivery

Brent close at $44.62/b (-$0.35) July delivery