Oil prices fell on Wednesday after industry data showed U.S. crude inventories u...
TOKYO - Oil prices fell on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the last session that were stoked after Washington said it would delay tariffs on some Chinese goods.
Brent crude was down 35 cents, or 0.6%, at $60.95 a barrel at 0116 GMT, after rising 4.7% on Tuesday, the biggest percentage gain since December. It is “becoming more difficult by the day to figure out what President Trump will do other than to say he will favor his own interests and then at times seem to work against them,” said Greg McKenna, strategist at McKenna Macro financial advisory company in Australia.
Crude inventories increased by 3.7 million barrels to 443 million, compared with analyst expectations for a decrease of 2.8 million barrels, the API said.
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