US crude oil production slips for 3rd session before inventories: EIA

Oil fell for a third straight session on Wednesday as investors took profits while looking ahead to US inventories data due later in the day for pointers on where prices will head next.

Brent crude for May dropped 63 cents, or 0.9%, to $66.89 a barrel by 0721 GMT, after earlier hitting an intraday low of $66.50, while US West Texas Intermediate crude for April was at $63.47 a barrel, down 54 cents, or 0.8%.

Prices gained support last week from the OPEC+ decision to largely maintain production cuts in April. They then initially jumped on Monday, with Brent rising above $70 a barrel, after attacks by Yemeni Houthis on Saudi’s oil heartland, before settling back as the alarm subsided.