Brent crude settled down 25 cents, or 0.6%, at $40.71 a barrel. U.S. West Texas Intermediate (WTI) fell 42 cents, or 1.1%, to $37.96 a barrel. U.S. crude inventories rose to a record high last week for a second straight week, reaching more than 539 million barrelsoil cushing oklahoma. (File pic shows oil storage at Cushing, Oklahoma. - Reuters)
NEW YORK: Oil prices settled lower on Wednesday on fuel demand worries due to an uptick in coronavirus cases, with emerging hotspots in China and the United States, and as U.S. crude stocks grew again, taking commercial inventories to another all-time high.
Brent crude settled down 25 cents, or 0.6%, at $40.71 a barrel. U.S. West Texas Intermediate (WTI) fell 42 cents, or 1.1%, to $37.96 a barrel.
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