Oil falls after data shows increase in US stocks
Brent is weaker amid worry about oversupply as potential second wave of coronavirus pandemic threatens to halt any recovery of demand
17 June 2020 - 09:13
Seoul — Oil prices fell on Wednesday as data showed an increase in US crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.
Brent crude futures were down 89c, or 2.2%, at $40.07 a barrel as of 3.48am GMT, and US West Texas Intermediate (WTI) futures fell $1.13, or 2.9%, to $37.25 a barrel...
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