Oil takes breather after coronavirus vaccine rally as stockpiles rise


TOKYO (Reuters) - U.S. oil edged lower on Wednesday, after an industry report showed crude stockpiles in the United States rose against expectations, tempering a rally driven by news that another vaccine against COVID-19 had proved effective in trials. West Texas Intermediate crude was down 14 cents, or 0.

3%, at $44.77 a barrel by 0035 GMT, after rising more than 4% on Tuesday. Brent crude was yet to trade, having risen almost 4% in the previous session. The contracts closed at their highest since early March on Tuesday, after a three-day.

This article is no longer available in our repository.

There could be multiple reasons for this.