Oil prices fall 2% as inventories rise and vaccine rollout stalls

Topics oil and gas | Oil Prices


Oil prices fell for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic. Brent crude fell $1.47, or 2.16%, to $66.53 a barrel by 1341 GMT. U.S.

oil was down $1.50, or 2.32%, at $63.10 after shedding 0.3% in the previous session. Both contracts are down more than 4% over the past five days. "Short-term developments - stuttering vaccine rollouts and the build in U.S. oil inventories - are driving sentiment, but the longer-term.

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