SULAIMANI (ESTA) — Oil prices fell on Thursday, after official figures showed an unexpected rise in inventories in the United States.
Brent crude was down 11 cents at $78.53 a barrel by 0625 GMT, after falling 0.6% on Wednesday.
U.S. West Texas Intermediate (WTI) futures fell 5 cents to $74.78 per barre, having also declined by 0.6% in the previous session.
U.S. oil and fuel stockpiles increased last week, the U.S. Energy Department’s Energy Information Administration (EIA) said on Wednesday.
Crude inventories were up by 4.6 million barrels in the week to Sept. 24 to 418.5 million, EIA data showed, according to Reuters.
“$80 oil is not over-the-top high,” Reuters quoted Joseph Perry, an analyst at StoneX, as saying.
