NEW YORK (Reuters) – Oil prices were mixed on Wednesday, supported by a draw in U.S. crude inventories but pressured by concerns about the market’s recovery after OPEC and its allies lowered their 2021 demand growth forecast.
Brent crude for May, which expires on Wednesday, fell 23 cents, or 0.4%, to $63.91 a barrel at 11:05 a.m. EDT (1505 GMT). The more active Brent contract for June was up 18 cents, or 0.30%, at $64.36 a barrel.
U.S. West Texas Intermediate (WTI) crude futures gained 41 cents, or 0.7%, to $60.96 a barrel.
WTI crude futures for May delivery rose 41 cents to $60.96 a barrel, a 0.7 percent gain.
U.S. crude stocks fell unexpectedly last week as refinery runs increased, shrinking by 876,000 barrels in the last week, compared with analysts’ expectations for an increase of 107,000 barrels, the Energy Information Administration said.
