Crude Oil Price In Downward Trend For Third Day

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Oil prices fell for a third day on Wednesday after data from an industry body showed U.S. crude stocks rose more than expected last week, while a selloff in other commodities, stocks and bonds added to investors’ bearish mood. 

 

Brent crude, the global benchmark, was down 22 cents, or about 0.3 percent, at $68.80 a barrel by 0735 GMT, after falling earlier to a nearly two-week low.

U.S. West Texas Intermediate (WTI) futures were down 31 cents, or 0.5 percent, at $64.19, after falling to their weakest level in more than a week.

On Tuesday, U.S. crude fell 1.6 percent to close at $64.50 a barrel, the contract’s decline far outpacing a 0.6-percent drop in the price of Brent.

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