Oil prices fall 1% after surprise US storage build


US West Texas Intermediate crude futures fell 87 cents, or 1.2%, to US$71.37 a barrel. Global benchmark Brent crude oil futures settled 79 cents, or 1%, to US$76.80 a barrel.

NEW YORK: Oil prices fell nearly a dollar a barrel on Wednesday after a surprise jump in US crude stockpiles raised worries about demand in the largest oil market.

US West Texas Intermediate crude futures fell 87 cents, or 1.2%, to US$71.37 a barrel. Global benchmark Brent crude oil futures settled 79 cents, or 1%, to US$76.80 a barrel.

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