Oil prices slumped on Wednesday

International benchmarks for oil prices fell on Wednesday (23 March) as the US Energy Information Administration's data showed that crude oil inventories in the country swollen by 9.36 million barrels last week, worsening the global excess supply while production remained strong. Market participants said that the price drop could have been worse, however a large drew in gasoline stockpile helped to mitigate some of the impact. Analysts expected a possible rebound if the US dollars become more stable.

WTI closed at   $39.79/b (-$1.66)
Brent closed at $40.47/b (-$1.32)

Kindly visit the Daily Price section for the latest import and local prices to/in China and Southeast Asia market.