Oil Prices Decline Following An Increase In U.S. Stockpiles
Category: General
Oil prices experienced a drop on Thursday, primarily due to an increase in U.S. crude stockpiles and a strengthening dollar index, offsetting some of the previous day's gains when prices saw an uptick.
Brent crude futures declined by 28 cents, equivalent to 0.3%, settling at $89.95 per barrel at 0340 GMT, while U.S. West Texas Intermediate crude futures eased by 18 cents, or 0.2%, to reach $85.21 per barrel, according to a report by Reuters.
These benchmark oil contracts had recently recorded a nearly 2% increase on the previous day but saw a subsequent decline.
26 Oct, 2023
0
310
Posted Comments
Related News