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Oil: prices fall for the sixth day in a row

05/06/2024
Source : ORISHAS-FINANCE
Categories: Raw materials

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After an industry report showed an increase in U.S. crude oil and fuel inventories, oil prices extended their losses compared to the previous session in early Asian trading on Wednesday.

Brent oil futures lost 14 cents, or 0.2%, to $77.38 per barrel at 0005 GMT. West Texas Intermediate crude futures fell 18 cents, or 0.3 percent, to $73.07 per barrel. Both contracts lost nearly $1 in Tuesday's session and around $3 per barrel on Monday, under pressure after the OPEC+ group detailed plans to increase supply starting in October despite recent signs of weakening demand growth

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