SINGAPORE: Oil prices eased on Wednesday after industry data showed US crude stockpiles rose more than expected, but losses were capped by supply worries. Brent crude futures for December fell 72 cents, or 0.8%, to $92.80 a barrel by 0330 GMT, after settling 26 cents higher in the previous session.
US West Texas Intermediate (WTI) crude futures for December were down 48 cents, or 0.6%, to $84.84, reversing the previous session’s gain.
“The prospect of a global economic slowdown and tighter monetary policy has been outweighing the spectre of supply reductions in recent weeks,” ANZ Research analysts said in a note.
