Oil Hits One-Year Low on Tariffs Fears, Rising Supply ...Middle East

OILPRICE - Economy
Oil Hits One-Year Low on Tariffs Fears, Rising Supply
source : OILPRICE ( Middle East ) () 55
Oil prices declined for the third consecutive day after U.S. crude oil stocks posted a larger-than-expected build, adding to worries about a looming return of more OPEC+ barrels to the market. Brent crude for May delivery fell 3.6% to $68.56 per barrel at 12.10 pm ET on Wednesday, the lowest level in more than a year, while WTI crude sunk 4.3% to change hands at $65.37 per barrel. U.S. crude stocks rose more than expected in the week ending February 28, while gasoline and distillate inventories fell, the Energy Information Administration reported.…

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