Oil price falls 2% on US stimulus impasse, stockpile rise

Brent crude futures fell US66 cents, or 1.6%, to settle at $41.99 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 72 cents, or 1.8%, to settle at $39.95 a barrel.(File pick shows oil storage tanks at Cushing, Oklahoma - Reuters)

NEW YORK: Oil prices fell nearly 2% on Wednesday after U.S. President Donald Trump dashed hopes for another stimulus package to boost the coronavirus-hit economy and after U.S. crude inventories rose in the most recent week.

Brent crude futures fell US66 cents, or 1.6%, to settle at $41.99 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 72 cents, or 1.8%, to settle at $39.95 a barrel.