Oil prices decline after rising stockpiles
Xinhua,March 02, 2018 Adjust font size:
NEW YORK, March 1 (Xinhua) -- Oil prices continue to fall on Thursday after government data showed U.S. crude inventories climbed more than expected.
The Energy Information Administration said in its weekly report on Wednesday that U.S. crude inventories added 3 million barrels for the week ending Feb. 23, compared with analyst expectations for a build of 2.1 million barrels.
Meanwhile, gasoline inventories in the country rose by 2.5 million barrels, compared to analyst expectations for a 190,000-barrel drawdown.
The West Texas Intermediate for April delivery fell 0.65 U.S. dollar to settle at 60.99 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery lost 1.95 dollar to close at 63.83 dollars a barrel on the London ICE Futures Exchange. Enditem