Oil Prices Dip After US Crude Inventories Rise


Post the unexpected rise in the inventories of the US crude; oil prices slipped on Wednesday. It added to the woes of less demand that led to a steep fall in the week earlier.

At 0347 GMT, the Brent crude oil slipped to $41.42 per barrel that is 0.7 per cent or 30 cents down. Reportedly, it had gained 28 cents the previous day. On the other side, the US crude dipped to $39.46 a barrel, which is 0.9 per cent or 34 cents.

Reportedly, both the contracts witnessed a loss of four per cent on Monday, which is highest in the last two weeks.


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