NEW YORK: Oil prices fell on Wednesday as US government data showed a surprise rise in US crude inventories, and as tensions escalated between the United States and China.
Brent crude fell 55 cents, or 1.2%, to $43.77 a barrel by 10:56 EST (1456 GMT). US West Texas Intermediate (WTI) crude dropped 56 cents, or 1.3%, to $41.36.
US crude and distillate inventories rose unexpectedly and fuel demand slipped in the most recent week, the Energy Information Administration said on Wednesday, as the sharp outbreak in coronavirus cases has started to hit US consumption.
