Oil prices fall as growing US stockpiles signal bumpy demand recovery


By Shu Zhang and Sonali Paul SINGAPORE/MELBOURNE (Reuters) - Oil prices slid on Thursday after data showed U.S. crude stockpiles unexpectedly rose last week, stoking concern about a sluggish recovery in fuel demand as coronavirus cases continue to surge in many countries. U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or 0.63%, to $37.

81 a barrel at 0417 GMT, after climbing 3.5% on Wednesday. Brent crude futures dropped 17 cents, or 0.42% to $40.62 a barrel, after rising 2.5% on Wednesday. The oil market is.

This article is no longer available in our repository.

There could be multiple reasons for this.