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Oil prices dip over rising US crude stockpiles and weaker demand
June 12, 2019
Source: Reuters

Oil prices dip over rising US crude stockpiles and weaker demand

Oil prices fell in the international market on Wednesday, as U.S. crude inventories gained amidst a weaker oil demand outlook. Brent crude futures dipped 1.4%, to $61.42 a barrel. US WTI crude futures fell 1.6%, to $52.41 per barrel. API data released yesterday showed a jump of 4.9 million barrels in the US crude inventories last week. Oil prices were also under pressure from the ongoing US-China trade war.

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