After the release of an industry report showing increased U.S. crude inventories and concerns about tariffs, oil prices fell on Wednesday.

Brent futures fell by 36 cents, or 0.47%, to $76.64 per barrel at 01:30 GMT, while American West Texas Intermediate (WTI) crude fell by 37 cents, or 0.5%, to $72.95 per barrel. These declines ended a three-day streak of rising prices, with Brent rising by 3.6% while WTI rose by 3.7%. According to data from the American Petroleum Institute released on Tuesday, crude oil inventories in the United States, the world's largest oil producer and consumer, increased by 9.4 million barrels in the week ending February 7

Prices have also fallen due to concerns that multiple U.S. tariffs being enacted or threatened could limit global economic growth and energy demand.