Oil prices slid on Wednesday as industry data showed US crude stockpiles rose more than expected and on worries a rebound in Covid-19 cases in top importer China would hurt fuel demand.
Brent crude futures fell 44 cents, or 0.5 per cent, to $94.92 a barrel by 0454 GMT, while US West Texas Intermediate (WTI) crude futures fell 53 cents, or 0.6 per cent, to $88.38 a barrel. The benchmarks fell around 3 per cent on Tuesday.
US crude oil inventories rose by about 5.6 million barrels for the week ended November 4, according to market sources citing American Petroleum Institute figures, while seven analysts polled by Reuters estimated on average that crude inventories would rise by about 1.4 million barrels.
