Crude oil futures end lower despite decreased US inventories
EIA released a report revealing crude oil inventories slid by 3.9 million barrels last week
Crude oil futures ended lower on Wednesday despite decreased US crude oil inventories. The Energy Information Administration (EIA) released a report revealing crude oil inventories slid by 3.9 million barrels last week after jumping by 7.1 million barrels in the previous week. Meanwhile, street had expected crude oil inventories to dip by around 1.8 million barrels. Further, fears over US tariffs leading to slow economic growth continued to weigh on investors’ sentiments.
Benchmark crude oil futures for August edged down $0.14 or about 0.21% at $66.38 a barrel on the New York Mercantile Exchange. Brent crude for September declined $0.19 or about 0.28% at $68.52 a barrel on London's Intercontinental Exchange.
