Oil prices fall on U.S. stock rise, higher supply


By Christopher JohnsonLONDON (Reuters) - Oil benchmark Brent crude hit a three-month low on Wednesday after a rise in U.S. crude inventories highlighted increasing global supply and concerns over weak demand.Brent fell 93 cents to a low of $71.23 a barrel, its weakest since April 17, before recovering to around $71.50, down 66 cents, by 1325 GMT.

U.S. light crude was down 75 cents at $67.33, not far above Tuesday's one-month low of $67.03 per barrel.Oil markets have fallen over the last week as Saudi Arabia and other members of the Organization.

This article is no longer available in our repository.

There could be multiple reasons for this.