Oil falls on US stimulus impasse and US stockpiles

LONDON: Oil prices fell on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy, with prices also pressured by a larger than expected rise in U.S. crude inventories.

Brent crude futures were down $1.05, or 2.5%, to $41.60 a barrel by 1403 GMT and U.S. West Texas Intermediate (WTI) crude declined by $1.19, or 2.9%, to $39.48.