Oil prices down as US inventory builds unexpectedly
Crude stocks rise by 3.5-million barrels — analysts had expected a drop of 849,000 barrels; Russia’s Rosneft is taking Opec to task about supply cuts
05 June 2019 - 12:09
London — Oil prices resumed their slide on Wednesday, dragged down after an unexpected gain in US inventories but with losses capped by a recovery in global equities on hopes of a US Fed rate cut.
Brent futures were down 29c at $61.68 a barrel by 8.53am GMT. US West Texas Intermediate (WTI) crude was down 50c at $52.98 a barrel...
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