Although crude futures are still up around 3% this week, with traders taking into account the ongoing Middle East conflict, oil prices fell on Wednesday after industry data showed that U.S. crude inventories swelled more than expected. acute; vu

American West Texas Intermediate crude futures lost 74 cents, also 1%, to $71.00 per barrel. Brent crude oil futures fell by 73 cents, or 1%, to $75.31 per barrel at 09:17 GMT. Oil had advanced in the previous two sessions, reducing losses by more than 7% from the previous week. Wednesday's price drop came after data showed that U.S. crude inventories increased by 1.64 million barrels last week, according to market sources citing American Petroleum Institute figures released