Oil prices fall as U.S. inventories rise

Oil prices fell after data showed a surprise rise in U.S. crude inventories and the U.S.-Chinese trade dispute threatened oil demand, although Middle East tensions capped losses.

Brent crude futures were at $70.84 a barrel, down 40 cents. U.S. West Texas Intermediate (WTI) crude futures were at $61.22 per barrel, down 56 cents. U.S. crude stockpiles rose last week by 8.6 million barrels in the week to May 10 to 477.8 million, data from industry group the American Petroleum Institute showed on Tuesday. 

This compared with analyst expectations for a decrease of 800,000 barrels.

Contributor

Allana|Expert

Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.