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Oil Prices Dip Amid Rising US Inventories

Wall Street Journal Markets •
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Oil falls in early Asian trade. U.S. crude oil inventories rose unexpectedly last week as imports increased and exports fell, according to the U.S. Energy Information Administration Wednesday.

The latest data have raised doubts about the strength of U.S. demand, says Antonio Di Giacomo, a senior market analyst at XS.com, in a note. A sustained increase in commercial inventories could limit someిస్తున్న momentum from geopolitical risks, particularly if it coincides with signs of slowing fuel consumption in the coming weeks, he says.

Front‑month crude‑oil WTI futures are down 1.4% to $82.13 a barrel and Brent is down 1.3% at $87.86 a barrel.