Brent crude rose US2 cents to settle at $48.86 a barrel. U.S. West Texas Intermediate (WTI) crude fell 8 cents, or 0.2%, to settle at $45.52 a barrel.(File pic shows oil storage at Cushing, Oklahoma. - Reuters)
NEW YORK: Oil prices settled little changed on Wednesday as investors weighed an unexpected jump in U.S. crude stockpiles against optimism that a fast rollout of a coronavirus vaccine would fuel a recovery in global oil demand.
Prices fell 1% early in the session as data showed U.S. crude inventories rose by 15.2 million barrels to 503.2 million barrels last week, according to the Energy Information Administration, compared with analysts' expectations in a Reuters poll for a 1.4 million-barrel drop.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
