Oil loses ground after US stocks increase
US crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries
24 February 2021 - 08:15
Melbourne — Oil prices fell in early trade on Wednesday after industry data showed US crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut.
Crude stockpiles rose by 1-million barrels in the week to February 19, the American Petroleum Institute (API) reported on Tuesday, against estimates for a draw of 5.2-million barrels in a Reuters poll...
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